Pensions - Retail

The government plans to legislate for the lifting of NEST's contribution cap and transfer restrictions in 2017.

Chancellor George Osborne is to bring forward the introduction of the flat-rate state pension and the cap on social care by a year.

Chancellor George Osborne is to tell the electorate this week that his debt plans are in ruins, with the deadline for bringing UK debt down pushed back by many years.

Proposals for SIPP capital requirements based on assets under administration should be scrapped as it could risk consumer harm, the Association of Member Directed Pension Schemes (AMPS) has told the FSA.

AUTUMN STATEMENT

Plans to use self-invested personal pension (SIPP) providers' assets under management (AUM) as a factor in determining capital adequacy levels is a mistake, Dentons Pensions has said.

Aviva is to axe four products to new business, including its self-invested personal pension (SIPP), blaming duplication in the product range for the move.

The Financial Services Authority (FSA) is consulting on reducing projection rates across both personal and corporate pensions so they can be compared on a like-for-like basis.

Legal & General (L&G) is anticipating a drop-off in sales through financial advisers over the coming months and into early 2013 as firms concentrate on developing their business models for retail distribution review (RDR) implementation.

GOSLING'S GROUSE