Regulators must act now to impose some "proper regulation" to stop another defined benefit (DB) transfer advice disaster, saysTim Sargisson.

An amendment to the Pensions Schemes Bill which would have seen people given a pre-booked Pension Wise appointment ahead of accessing their retirement savings has been defeated.

Consumer complaints against firms for misadvised DB transfers also rising

Half-way house

Chancellor Rishi Sunak has confirmed a salary top-up scheme designed to minimise job losses over the next six months will be introduced on 1November as tighter Covid-19 restrictions remain in place.

A potential surge in pension transfer requests as a result of the economic fallout from lockdown could see demand for advice rocket, putting increased pressure on the profession, the Personal Finance Society (PFS) has warned.

Aegon UK’s pre-tax profits were up 17% in the first half of the year standing at £71m thanks in part to the success of its platform business.

Diversity initiative

The Bank of England has maintained the historic low 0.1% base rate and predicted a gloomy economic outlook for the UK in the face of the Covid-19 pandemic.

‘We will get through this’