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A portfolio of 140 Sipp and SSAS schemes with total funds under trusteeship of £83m has been sold for just £1.
Plans to introduce additional protection to pension holders ahead of the reforms kicking in in April have been outlined today by the FCA in a letter to chief executives of providers.
Financial advisers and intermediaries could see a surge in demand for help with auto enrolment in the next year, as research found three quarters of small and micro employers looking for support.
Annuity rates have plunged since the summer, a study has shown.
In May 2014, Steve Webb, addressing the Treasury Select Committee, indicated that the Guidance Guarantee "would be fairly basic ... fairly rudimentary ... fairly general ... but enough to get people to the starting gate".
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