Prudential has become the latest life company to report severely hit annuity sales in the wake of radical reforms to how people can access their pension.

Standard Life has said its sales of annuities have fallen by half following changes to the rules around retirement announced in last month's Budget.

The Financial Conduct Authority (FCA) is to investigate about 30 million insurance company policies over concerns that customers are subject to "unfair" conditions.

The state pension age should rise to 70 by 2040 - more than 20 years earlier than scheduled under government changes - the former chairman of the Financial Services Authority (FSA) Lord Adair Turner said last night.

Legal & General (L&G) has reported a jump in pre-tax profits and cash reserves and is eyeing further 'selective acquisitions' following its purchase of Cofunds last year.

Prime Minister David Cameron has said the state pension will continue to rise by at least 2.5% a year until 2020 if the Conservatives win the next election.

The Financial Conduct Authority (FCA) has fined insurance broker JLT Specialty £1.8m for an "unacceptable" approach to bribery & corruption risks from overseas payments.

Royal London is scrapping the Scottish Life, Bright Grey and Scottish Provident brands to move to a single "master brand" for its UK life, pensions and investment businesses.

Fidelity Worldwide Investment has reached an agreement to acquire the entire share capital of Annuity Direct and its holding company Retirement Angels.

Just Retirement has announced its plans to float on the London Stock Exchange.