Tax-free lump sum

Retirees are increasingly exposed to fraudsters since the pension freedoms were introduced due to the high cost of advice, according to the Trades Union Congress (TUC).

Experts have welcomed figures from the Association of British Insurers (ABI) showing people are making informed decisions about their retirement incomes.

A quarter of a million people have taken advantage of freedom and choice since the reforms came into effect last April, according to official figures.

Freedom and choice is producing unexpected results across DB and DC schemes

Working longer and sharing risk better would help, says Paul Johnson

Fidelity Worldwide Investment has revealed what its customers are spending their pension lump sums on, with one retiree using the cash to buy a red Routemaster bus.

The government's green paper on tax relief has been welcomed by the Trades Union Congress (TUC).

Michael Johnson sets out plans to curb freedom and choice

Savers approaching retirement should be defaulted into a not-for-profit annuity broker to protect them from making poor decisions after new flexibilities come in, argues the Centre for Policy Studies (CPS).

The industry believes putting a parliamentary guarantee on the 25% tax-free lump sum would increase saving, according to PP research.