Budget 2014

Can fund groups rise to challenge?

How has funds industry changed since 1995?

Saga and Tilney Bestinvest are to launch a joint venture offering investment and financial planning services to the UK's over-50s.

Retirees who had already purchased an annuity may be able to benefit from the pension freedoms announced at last year's Budget by selling theirs to the highest bidder.

Interest rates for the new 'pensioner bonds', announced in the Budget 2014, have been set at a market-beating 2.8% for the one-year product and 4% for the three-year bond.

As people live longer than ever before and traditional sources of income fail to yield enough for lengthy retirement periods, choosing the correct income source is becoming essential.

The Money Advice Service (MAS) has urged providers to make funds more transparent as they prepare to roll out new retirement-focused products following pension reforms.

Fund managers must answer the government's "big questions" on pension reforms, Henderson's head of UK retail Simon Hillenbrand has said.

Old Mutual Wealth is removing the annual pension drawdown fee and scrapping the current minimum charge on its platform in order to simplify its charging structure.

Government plans to overhaul the retirement process could increase the threat of pensions liberation fraud by overstretching administrators, warns the Pensions Administration Standards Association (PASA).