Since the coalition government came to power in May the retirement income industry has seen unprecedented change - not least the launch of a consultation on abolishing the Age 75 rule. This is a subject close to the hearts of many within the retirement income market and has been greeted with almost universal enthusiasm.
Of course it is great that retirees have more flexibility. They can choose to annuitise later or not at all and the introduction of capped and flexible drawdown means people have more choice than...
More needs to be done to speed up DB to DC transfers but, as Jonathan Stapleton says, more also needs to be done to protect members.
The Pensions Ombudsman (TPO) took on 2,566 early resolution cases in 2018/19 after onboarding a team from The Pensions Advisory Service (TPAS), according to its annual report and accounts.
The lifeboat fund is in a good position despite reserves taking a £0.6bn hit. But the ramifications of the EU judgment on member compensation is an area of concern for CEO Oliver Morley, writes Stephanie Baxter