Deputy Prime Minister Nick Clegg has called for benefits such as free television licences, winter fuel payments and bus passes to be taken away from wealthy pensioners.

Controversial plans for a ‘pensions for mortgages' scheme could be in place by Easter, according to pensions minister Steve Webb.

A Financial Ombudsman Service executive has urged insurers to "embrace, encourage and celebrate" complaints, arguing they need to plan for imperfections.

The Financial Services Authority has fined BlackRock Investment Management Limited £9.5m for client money breaches.

The government has promised it will only implement changes to tax legislation retrospectively in "wholly exceptional circumstances", after concerns were raised that it could damage the UK's reputation.

Resolution has confirmed it will make no more acquisitions and abandoned plans to split the Friends Life business after revealing a 58% fall in profits.

Prudential has seen a significant decrease in corporate pensions sales but said this is countered by a sales boost in individual annuities and with-profits.

The Financial Services Authority will today suggest scrapping LIBOR and replacing it with a borrowing rate based on actual trades, it has been reported.

The Association of British Insurers has launched its compulsory code of conduct for members on providing information to customers about annuities.

Aegon UK made a loss before tax of £22m in the fourth quarter of 2011, dragged down by further redress payments following administrative problems at Scottish Equitable and a slump in life and pensions sales.