A Labour peer has attacked the annuity market, claiming it "plays fast and loose" with the regulatory framework.

The Pension Regulator's (TPR) ‘second line of defence' for retirees will be extended to cover trust-based pension scheme members as well those in contract-based arrangements, peers have heard.

The brand name for the guidance guarantee has been unveiled as ‘Pension wise - your money your choice'.

The Financial Conduct Authority (FCA) must establish a ‘second line of defence' for retirees ahead of pension freedom or the industry faces another major mis-selling scandal, according to MPs.

Prudential has launched a flexible drawdown option to its range of retirement products ahead of pension freedoms which come into force in April next year.

Pension providers should ensure all retirees use the open market to buy an annuity at the point of decumulation to ensure they get the most out of their savings, Just Retirement has said.

The Financial Conduct Authority (FCA) plans to cut the adviser guidance guarantee levy by 50% and announces tougher rules on bodies delivering guidance.

HM Revenue & Customs (HMRC) has clarified its position on why certain retirees using standalone lump sums trigger a reduced annual allowance.

Aviva has proposed to buy rival insurer Friends Life in a deal worth £5.6bn which will see the companies merge.

Labour has urged the government to ensure none of the 320,000 savers expected to take advantage of pension freedoms are exposed to "rip off charges".