The pensions industry is full of vested interests and must cut out "parasites" in order to regain trust in saving, a consultant says.

HM Revenue and Customs has launched a consultation on two new forms of protection for people caught unfairly by the government's most recent cuts to the lifetime allowance (LTA).

The Court of Appeal has ruled that the Olympic Airlines Pension Scheme cannot move into the Pension Protection Fund (PPF).

Friends Life has partnered with Key Retirement Solutions to provide open market annuity guidance for all its customers approaching retirement - including those in corporate schemes.

Scottish Life has confirmed that it will continue to undertake new auto-enrolment business through consultancy charging, despite being criticised by the pensions minister and releasing a statement apparently announcing a u-turn.

Pensions Buzz is a weekly survey of the industry.

Around two thirds of participants said contract scheme providers should be allowed to move members' money out of underperforming funds without consent under some circumstances.

Almost half of participants feel the drive for low charges poses no risk to competition or bar new entrants to the market.

Perhaps unsurprisingly, the overwhelming majority of respondents answered this question with a resounding ‘no'.

Buzz respondents were not in any way convinced that solvency requirements from Europe are dead and buried; just under 60% thought the requirements will be back in one form or another.