HM Treasury

The Pensions Advisory Service (TPAS) intends to provide the Chancellor's guidance guarantee over the phone on an appointment basis.

The Pensions Advisory Service (TPAS) intends to provide the Chancellor's guidance guarantee over the phone on an appointment basis.

The UK government will fight hard against European Commission (EC) pressure to overturn its pensions sector, according to economic secretary to the Treasury Andrea Leadsom MP.

The Childcare Voucher Providers Association (CVPA) has slammed the government's decision to choose National Savings & Investments (NS&I) as the sole provider for the new Tax-Free Childcare scheme.

So as expected the Treasury's response to the Budget consultation will allow transfers from private sector DB schemes to DC.

Harmonising pension policy on a European Union (EU) level is unlikely to work due to a lack of demand for cross-border schemes, according to a Treasury report, published yesterday.

Now Pensions anticipates that "the vast majority" of its members will choose to take cash at retirement following the flexibilities introduced in the Budget 2014.

Insurers are expected to offer income drawdown for schemes unwilling to offer the full range of retirement income options to members.

Fidelity Worldwide Investment has launched an at-retirement service ahead of the deadline for implementing the new flexibilities for defined contribution (DC) members next April.

The Pensions Advisory Service (TPAS) and the Money Advice Service (MAS) will struggle to cope with the scale and speed of meeting the guidance guarantee, industry figures say.