Master trust offers pension schemes at risk of entering the PPF an alternative to buying out members’ benefits at less cost and in less time

The credit crunch is forcing financial advisers to rethink their approach to income drawdown and other risk-based products, according to responses to PM’s forthcoming income drawdown survey.

New European Union rules on capital requirements for insurers will pose challenges to buyout and annuity providers and could have a lasting impact on UK retirees, according to industry feedback.

Friends Provident has declared that it will launch a corporate wrap platform in 2010.

The will-they-won’t-they talk of Friends Provident getting spliced to Resolution has ended after the life company accepted Clive Cowdery’s offer.

As Friends Provident prepares for life as part of Resolution, the company’s interim financial report shows the recession has taken its toll.

First it was Germany and France, then Japan got in on the act: it seems moving out of recession is currently at the height of vogue. But sadly for the UK, we still appear to be trotting around in last season’s downturn turn-ups.

The BT Pension Fund is to cut back its use of Hermes Fund Managers to just 50% of assets by next year.

Proponents of hedge funds have argued the asset class’s strong returns in the first half of this year show it is still a valuable investment for pension funds.

BNY Mellon has proposed rolling out Insight Investment’s liability-driven investment (LDI) business across the American bank’s portfolio of clients following the £235m takeover deal.

Sentiment moves markets. That certainly seems to have been the case so far this year. After the dreadful last quarter of 2008, most market participants believed they had seen the worst, only for equities to continue spiralling down until March. Similarly, by May, most assumed that the strong rebound rally had run its course, only to watch the S&P climb its way above 1,000 in August.

Vince Linnane, chief executive of the Pensions Management Institute (PMI), celebrated 25 years at the organisation at the beginning of August.

Ignis Asset Management has announced that chief executive Gavin Stewart is to step down, to be replaced by chief operating officer Chris Samuel.

Even though Michael Jackson may not have reached retirement himself, his recent passing has contributed to others realising their pension.

Cost pressures on defined benefit schemes are forcing through innovative changes such as contribution holidays and pensionable salary caps.

DIY buy-in and longevity hedging deals accounted for nearly double the £1.5bn traditional buyout and buy-in business for the first half of 2009, according to Hymans Robertson.

Some of the country’s biggest final salary pension schemes have chosen the summer months to publicly announce plans for drastic changes to plug growing deficits.

The newest player in the personal pension market has announced its intention to rejuvenate the small self-administered scheme (SSAS) pension by buying up legacy books.

The only reason a UK resident should take up a qualifying recognised overseas pension scheme (QROPS) is for the death benefits, an overseas pensions specialist has warned.

More than a third of financial advisers believe the retail distribution review (RDR) will have a negative impact on their business, according to a PM and YouGov poll.

The Oval Group has revealed it is to develop a third-party administration function from the former Unigate pension scheme.

When the going gets tough, according to Billy Ocean, the tough get going. And that is exactly the advice on offer in this guide to surviving the first global recession of the 21st century.

There is a theory that if you say something often enough, people will believe it. In practice this works only so long as enough people are convinced. The Department of Work & Pensions (DWP) is hoping that enough people will be convinced about pensions reform and personal accounts, but the feedback from various influential audiences suggests otherwise.

Securing a stable income for retirement is a big problem, but greater portfolio diversification could generate regular levels of return for both investors and institutions

“Thanks for seeing me at such short notice doctor.”

It may be a far cry from a one-telephone operation, but as Hargreaves Lansdown continues to face economic challenges, its founder tells Owen Walker he can’t wait for the next 25 years

Making changes to any company pension scheme can be a major undertaking, but with care, consideration and consultation, the impact on members can easily be minimised

Governments are proving hard to persuade on the benefits of ESG and responsible investing, but support from the industry may convince them of the benefits

Recent cases of concern to trustees include a rectification issue, and another in which the ombudsman ruled in favour of the plaintiff due to maladministration by the trustee

Although Ian Fishwick was thrust into managing funds at Fidelity at the start of the credit crunch, he has faced the most exciting challenges of his career so far, he tells Nick Reeve

Still lacking priority at many schemes, administration is picking up its profile and emerging from the shadows to offer a quality service

The government’s quantitative easing initiative has seen in excess of £175bn pumped into the UK economy, but what overall effect has this had on the position of gilts?

What were the most important themes of the RDR proposals?

The role of trustee is becoming evermore demanding and complex, so it is imperative that their position is never compromised

Scheme funding legislation has several implications for actuaries, who play a vital role in setting the contributions

Living Time is doubling its account management team after being inspired by positive research on the company’s standing with independent financial advisers (IFA).

Hermes Equity Ownership Services (HEOS), which specialises in advising pension funds on asset management, has appointed Sir Mark Moody-Stuart as chairman.

Gareth Adams is to become a senior adviser at the Financial Services Authority (FSA).

Another year has passed since our last Guide to Retirement Income. 12 months ago in this introduction, I was saying that as far as euphemisms go, credit crunch “falls so woefully short of the mark as to be laughable”. And so it has.

Though being a two-time former world heavyweight boxing champion, Olympic gold medallist and the face of the most famous lean mean fat-reducing machine in the world, George Foreman has never been known for his financial insights. However, his words on retirement make for sound advice: “The question isn’t at what age I want to retire, it’s at what income.”

Following two years of economic and political turmoil, it is difficult to know what to expect next. Emergence from the recession or a false sense of recovery with worse to come? A change of government next year or perhaps a change of PM?

With the drying up of credit and changes to pension tax rules, the game has changed significantly for savers. But many products can still turn a decent profit

Educating employees about their pre-retirement options could ensure many more of them engage in pensions and save for their future

With consumers poised to act as judge and jury, the RDR has a long way to go before it is able to rebuild trust in the advisory market

Though smaller providers may struggle and regulation could impede progress, Sipps and wraps are joining forces to beat the recession

As defined benefit approaches its twilight years, innovations are under way to maximise the benefits offered by occupational savings plans

2012 will see immense change in the charging structure for advice, but the new style of remuneration can benefit providers, advisers and clients alike

Over the past couple of years, there has been something of a sea change in the attitude of providers operating in the at and post-retirement market.

I suspect readers of this supplement will have rather more refined leisure pursuits, but if you ever find yourself asked in a pub quiz how many pensions ministers Labour has had since coming to power in 1997, the answer is 11 – so far.

As employers and providers shoulder the blame for retirement product ignorance, which options should the general public take note of?

USP and its investors are set to benefit from product innovations and a fast-growing retirement market

As the retirement market expands, individuals are seeking bespoke solutions to maximise income throughout their later years

The downturn has jeopardised the pension pots of many people approaching retirement, but work is underway to develop products that allow greater flexibility for those looking to annuitise

The third way is a confusing concept to many advisers, but those who make it part of the process could hold the key to enhancing their propositions

A flexible but secure retirement income is the goal for all retirees, and a middle-way solution offering a guaranteed form of drawdown could be the answer for many

With innovative products joining the traditional annuities market, retirees may find a combination could hit the sweet spot

The future lies in flexible, tailored solutions that can adapt to the average retiree’s ever-changing lifestyle and protect against inflation

As the golden generation’s savings and investments take a massive hit, equity release could be a mainstream star in the making