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ANNUITY rates have dropped 14pc in the last five years, new research reveals.

ABERDEEN Asset Management won £7.3bn of new mandates during the five months to February 28, a company trading statement reveals.

SHAREHOLDERS in the fresh crop of bulk annuity buyout firms are poised to stump up more capital to meet a surge in demand, the new insurers say.

GORDON Brown's decision to cut pension tax credit in 1997 is not solely to blame for increased pressure on workplace pensions, the National Association of Pension Funds claims.

THE ROYAL Bank of Scotland and the Bank of New York have sold their offshore securities services joint venture to BNP Paribas.

BP and the City of London Corporation have launched a multi-million pound project to research investment opportunities into environmentally-friendly technologies.

THE RESOLUTION Foundation has backed select committee concern over the cost of providing financial advice to support personal accounts.

STANDARD Life Investments has launched an investment-only funds platform for UK defined contributions schemes.

A QUARTER of the UK's top 100 companies now have a surplus in their pension scheme, latest figures from Deloitte reveal.

GORDON Brown decided to abolish tax credits on dividends despite warnings that it would cost occupational pension schemes more than £3bn a year.