More than £1.8bn was withdrawn from pension pots in the first two months after the introduction of freedom and choice, according to the Association of British Insurers (ABI).
Auto-enrolment safeguards will not prevent mis-selling on an industrial scale
Here they are… The key findings of the Independent Project Board's final report into the charges and benefits in workplace defined contribution schemes, published today.
The government is looking into exit fees levied on people cashing in their defined contribution (DC) pots, but has as yet no plans to intervene, says Steve Webb.
The Law Commission has called on the government to explore regulating investment consultants.
The build-it-yourself approach to pensions is an expensive and unsatisfactory experience, says Con Keating
Rachel Dalton says insurers should already know what good governance looks like
Henry Tapper asks what pension costs should be disclosed, and to whom
Helen Morrissey thinks its time for action on the retirement market
The Office of Fair Trading (OFT) has appointed leading figures from the pension industry to the board that will oversee the audit of defined contribution (DC) legacy schemes.