Former pensions minister Steve Webb has joined Royal London as director of policy and external communications.

Complaints about annuities are continuing to rise more than a year after the Chancellor announced a reform of the retirement income market, according to the latest figures from the Financial Ombudsman Service (FOS).

The chief executive of the Financial Conduct Authority (FCA) Martin Wheatley is to step down in September, the regulator announced today, because the Treasury wanted a change of leadership, a source close to the FCA said.

More than £1.8bn was withdrawn from pension pots in the first two months after the introduction of freedom and choice, according to the Association of British Insurers (ABI).

The creation of a second-hand annuity market is guaranteed to happen, according to former pensions minister Steve Webb, who suggested the Treasury has already ‘banked' the cash it expects to receive from the policy.

Half of advisers refuse to implement pension transfers out of defined benefit (DB) schemes amid worries the regulator would hold them to account further down the line, according to research.

As many as 6,000 people have accessed the Money Advice Service's (MAS) retirement adviser directory in its first month of operation, the consumer body has said.

Legal & General (L&G) has generated a 'record' £330m in cash in the first quarter of the year as changes to its business following the pension reforms paid off.

The Financial Services Compensation Scheme (FSCS) will soon protect the total value of people's annuities, it has confirmed.

The majority of people accessing their pensions for the first time will be overpaying tax, Prudential head of business development Vince Smith-Hughes has warned.