Budget 2014

Legal & General (L&G) is considering launching lifetime mortgages as more retirees eye equity release to fund their income.

Sesame Bankhall Group has set aside £31m for possible customer redress as "a number" of business reviews with "uncertain" outcomes are completed, parent company Friends Life has announced.

Potential drawdown clients looking to keep their pension pot invested after April next year will be a "big target" for Standard Life, which earlier announced a near 60% drop in annuity margins for the first half of the year.

Millions of pension savers will be prevented from taking cash freely from their retirement funds next April unless they pay hefty penalties that could slash their pots by more than 20%, according to reports.

Axa Wealth saw funds under management on its wrap proposition Elevate rise by £2bn in the last 12 months.

Threadneedle has launched a Global Multi Asset Income fund, to be managed by Toby Nangle, as it seeks to provide an alternative vehicle for retirement assets.

JO Hambro Capital Management is considering rolling out a multi-asset range as it looks to benefit from pension reforms, its chief executive has said.

Annuity sales have dropped 43.8% year on year as retirees wait for pension freedoms to begin in April 2015, according to latest research.

Mutual LV= has reported strong annuity sales for the second quarter of the year despite the sweeping changes to retirement income announced in the 2014 Budget.

Pensions passport idea touted as ‘win-win’