Pension Freedoms

Around one in ten (11%) workers aged over 55 say pension freedoms have encouraged them to save more since the rules came into effect in April 2015, Prudential has found.

Three years after Freedom and Choice, many default funds still have not moved away from targeting annuity purchase. This could have unintended investment risks for members, writes Victoria Ticha

The Pensions Regulator (TPR) and Financial Conduct Authority (FCA) are to produce a joint strategy on how they will collaborate to regulate the sector over the next decade.

Total of £15.7bn accessed flexibly

Around eight in ten savers between 50- and 64-years-old have underestimated their life expectancy, potentially leaving them with a shortfall in retirement.

The Association of British Insurers (ABI) has published guidance to help firms spot and support vulnerable people in the long-term savings market.

Former pensions minister Baroness Ros Altmann has claimed civil servants gave explanations that "didn't really ring true" for not introducing a cold calling ban while she was in office.

Advice and guidance is not enough

HM Revenue and Customs (HMRC) paid out £37m in overpaid tax to pension freedoms users in the third quarter of the year, its quarterly figures have revealed.

Just under 200,000 people accessed their pensions using Freedom and Choice in the third quarter of the year, HM Revenue and Customs figures have revealed.