Providers have said a charge cap on income drawdown, as proposed by Labour leader Ed Miliband, is "unnecessary" and a "solution to a problem that does not even exist".

Providers who have cut drawdown charges in the run-up to April 6 to "grab market share" will revisit their decisions in the months to come, suggested LV=.

Insurer Prudential's chief executive Tidjane Thiam is to replace Brady Dougan at the helm of Swiss bank Credit Suisse.

Legal & General (L&G) has posted an operating profit growth of 10% for the last year following a strong performance of its retirement division.

Non-executive director of the Financial Conduct Authority (FCA) David Harker has died aged 64 after a short illness.

Aegon UK posted a 37% increase in earnings in Q4 last year, citing increased demand for income drawdown on its platform.

The website of National Savings & Investments (NS&I) crashed after experiencing "high demand" for the newly launched pensioner bonds, which went on sale this morning.

There are still too many people in financial services who think they can "keep their customers where they want them" by quietly carrying on with old-style practices, Pensions minister Steve Webb has said.

The interest rates for two new government-backed bonds for the over 65s will be announced on 12 December, Treasury documents show.

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