Several changes made
Regulator does not want to 'incentivise short-termism'
More than half of retirement pots accessed under pension freedom rules have been fully withdrawn, the Financial Conduct Authority confirmed in its interim retirement outcomes review.
Guidance on transfers to 'suspicious' schemes
The government is to create a single guidance body for pensions, money and debt matters, which will replace The Pensions Advisory Service (TPAS), including Pension Wise, and the Money Advice Service (MAS), it has said.
Closed book consolidator Phoenix is to acquire Abbey Life from Deutsche Bank for £935m.
A pension dashboard prototype will be launched by 11 providers next spring, the Treasury has said.
Annuities can be re-sold from April 2017
The Pensions Regulator (TPR) wants to be given greater powers to block merger deals involving companies with stressed pension schemes, its chief executive has said.
Back to early 2015 levels
Fears raised over consumer decision making
There are several techniques to help engage savers
Will ban fees on new contracts
Dashboard will be implemented by 2019
'Asset management is a simple business but it's not an easy business'
The Financial Conduct Authority (FCA) is considering changing the way consumer compensation limits are structured after some firms suggested insurance and investment limits should be aligned.
Annuities are beginning to see a revival, as retirees shun drawdown and cash withdrawals for a guaranteed income, latest figures from the Association of British Insurers (ABI) have shown.
Three bodies face major changes
MAS was heavily criticised by MPs
The former pensions minister Steve Webb has accused the Chancellor of orchestrating a ‘daylight robbery' with his proposals to reform tax relief.
Transaction cost up 4%
Almost half of those opting for income drawdown in retirement have done so without seeking advice, new data from the Financial Conduct Authority (FCA) has shown.
TVA is wrong approach post-pension freedom
Each session costs almost £500
The Treasury has said it wants to make financial advice mandatory for sales of annuities on the secondary market.
The Financial Conduct Authority (FCA) has written to pension and retirement income providers to request details about consumer access to - and charges on - decumulation products.
The Financial Advice Market Review will examine how access to advice can be improved
Government plans to merge ISAs and pensions would harm retirement saving and mean more retirees run out of money, Axa Wealth head of retirement planning Andy Zanelli has warned.
Chancellor George Osborne will deliver his Autumn Statement alongside the government's spending review on 25 November.
Pension transfer requests out of defined benefit (DB) schemes doubled after the relaxation of defined contribution (DC) retirement processes, according to research from one provider.
Former pensions minister Steve Webb has joined Royal London as director of policy and external communications.
Complaints about annuities are continuing to rise more than a year after the Chancellor announced a reform of the retirement income market, according to the latest figures from the Financial Ombudsman Service (FOS).
The chief executive of the Financial Conduct Authority (FCA) Martin Wheatley is to step down in September, the regulator announced today, because the Treasury wanted a change of leadership, a source close to the FCA said.
More than £1.8bn was withdrawn from pension pots in the first two months after the introduction of freedom and choice, according to the Association of British Insurers (ABI).
The creation of a second-hand annuity market is guaranteed to happen, according to former pensions minister Steve Webb, who suggested the Treasury has already ‘banked' the cash it expects to receive from the policy.
Half of advisers refuse to implement pension transfers out of defined benefit (DB) schemes amid worries the regulator would hold them to account further down the line, according to research.
As many as 6,000 people have accessed the Money Advice Service's (MAS) retirement adviser directory in its first month of operation, the consumer body has said.
Legal & General (L&G) has generated a 'record' £330m in cash in the first quarter of the year as changes to its business following the pension reforms paid off.
The Financial Services Compensation Scheme (FSCS) will soon protect the total value of people's annuities, it has confirmed.
The majority of people accessing their pensions for the first time will be overpaying tax, Prudential head of business development Vince Smith-Hughes has warned.
Providers have said a charge cap on income drawdown, as proposed by Labour leader Ed Miliband, is "unnecessary" and a "solution to a problem that does not even exist".
Providers who have cut drawdown charges in the run-up to April 6 to "grab market share" will revisit their decisions in the months to come, suggested LV=.
Legal & General (L&G) has posted an operating profit growth of 10% for the last year following a strong performance of its retirement division.
Non-executive director of the Financial Conduct Authority (FCA) David Harker has died aged 64 after a short illness.
Aegon UK posted a 37% increase in earnings in Q4 last year, citing increased demand for income drawdown on its platform.
The website of National Savings & Investments (NS&I) crashed after experiencing "high demand" for the newly launched pensioner bonds, which went on sale this morning.
There are still too many people in financial services who think they can "keep their customers where they want them" by quietly carrying on with old-style practices, Pensions minister Steve Webb has said.
The interest rates for two new government-backed bonds for the over 65s will be announced on 12 December, Treasury documents show.