About 14 million people aged 25-34 could be underestimating the pot they need at retirement by nearly £400,000, new research has suggested.
Nearly one in four over-55s plans to take cash out of their pension funds while still working.
The CII is to launch a new pensions exam unit to support professional standards in the sector.
David Thompson, managing director of business development and proposition at AXA Wealth, has joined the chorus of leading figures expressing concerns about a pension-Isa merger.
ABI data released today shows that £4.7bn has been withdrawn under the new pension freedoms but surprisingly annuity sales have risen for the first time in three years.
TISA, the tax-incentivised savings association, is warning that moves towards a pension Isa would be counter-productive.
In its response to the Treasury consultation on pension transfers and early exit charges, Sipp provider AJ Bell has called for all early encashment penalties that block access to the new pension freedoms to be scrapped.
A Retirement Survey, which polls some of the UK’s leading pension and annuity professionals, found that 86% agree or strongly agree that the UK will see an increase in individuals taking cash beyond their tax-free allowance.
Women in the UK are setting their sights “significantly lower” than men when it comes to how much money they need to live comfortably in retirement.
More than 40 pension and annuity experts say more information on flexible pensions must be delivered online and through other forms of guidance such as via the telephone and face-to-face.
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