Royal London

The FCA’s consultation on banning contingent charging on DB transfer advice has closed. Kim Kaveh looks at the industry’s responses.

HM Revenue and Customs (HMRC) paid back over £54m in tax on pension withdrawals during the three months to 30 September – the highest quarterly amount since the introduction of Freedom and Choice in 2015.

Over £30bn has been withdrawn from pension pots since Freedom and Choice was introduced in 2015 for those aged over 55, according to latest data from HM Revenue and Customs (HMRC).

The Office of Tax Simplification (OTS) has called on the government to review its “complicated” pension tax measures and simplify engagement with the system.

Pensions and financial inclusion minister Guy Opperman has written to the 50 largest pension schemes requesting action to combat climate change.

There needs to be wider access to partial transfers out of defined benefit (DB) schemes, according to a joint paper published by Royal London and Lane Clark & Peacock (LCP).

The Centre for Social Justice has proposed raising the state pension age to 75 by 2035, despite a slowdown in mortality improvements. Holly Roach reports

Punter Southall Aspire has published a report looking at the disparities in DC default fund approaches. Kim Kaveh analyses the data.

Mid-life support for employees can be a win-win scenario for both employees and employers, according to the Centre for Ageing Better.

The various potential routes for the government to respond to the McCloud judgment will mean some members lose out, writes Moira Warner.