As Nikhil Rathi is reappointed as CEO of the Financial Conduct Authority (FCA) for another five years, the FCA has set out its strategic direction for 2025/26, with important implications for financial advisers.

While 2024 ended with a lot of doom and gloom in the pension world following the big announcement on inheritance tax (IHT), there was some good news that may have slipped under the radar of some advisers.

During May, the Pensions Policy Institute (PPI), sponsored by The Pensions Regulator (TPR), concluded that defined contribution (DC) pension savers – including those in SIPPs, as well as in Workplace Pensions - require more guidance when choosing suitable retirement products.

Age 75 has been an important milestone in pension rules since A day in 2006. It was the latest age at which a compulsory annuity purchase was required (prior to Pensions Freedoms). It's arguably it’s long been an arbitrary line in the sand, noting that life expectancy has been on the increase for the last 20 years, but this trigger age has remained unchanged.

It may be more than a year since the Lifetime Allowance was formally abolished but issues are still emerging from the mess made by rushed legislation.

Annuity rates have reached 7.72% for a healthy 65-year-old, up 64% since July 2020 when rates stood at just 4.71%.

Pension transfer value fell to a new month-end low in May, the third consecutive monthly record.

The FCA has today published its proposals on ‘targeted support’ which would allow firms to make financial guidance suggestions to groups of consumers with 'common characteristics'.