Aj Bell

The Treasury has rejected calls to change its mind on a planned cut to the money purchase annual allowance (MPAA) due to take effect next month.

The National Employment Savings Trust (NEST) will not expand its decumulation offering to enter the drawdown market, the Department for Work and Pensions (DWP) has confirmed.

Pension professionals have reacted with outrage to Treasury plans to cut the money purchase annual allowance (MPAA) from £10,000 to £4,000 from April.

The Treasury has announced that from April savers will be given tax-free early access to their retirement pots in order to pay for advice.

'Annuity comparator' tool to be established

Marks and Spencer's (M&S) decision to close its defined benefit (DB) scheme to future accrual from April 2017 has resulted in a £127m charge.

More than £1.5bn was withdrawn from pensions in the third quarter of this year, official statistics have revealed.

The amount of savings lost to pension fraudsters in the wake of Freedom and Choice is £2.7m higher than previously thought, new data reveals.

Savers will not be forced to fork out their retirement savings to pay outstanding debts if they have to declare bankruptcy, the Court of Appeal has ruled.

Helen Morrissey examines the pressure on the government to tackle drawdown