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Only one in three people expect to stop working completely when they retire and phased retirement will become the new norm, according to a consumer study for Aegon which also shows that few people have a formal financial plan for retirement.

Mattioli Woods' subsidiary City Pensions has acquired the pension admin business of UK Wealth Management, part of Ashcourt Rowan, for up to £355,000.

Changes to the capital adequacy formula, which were announced this week, have been described as 'odd' by a Sipp provider.

A Sipps firm has backed the FCA's new capital adequacy rules and announced it has acquired the Sipp book from a pension administration provider for an undisclosed sum.

The Association of Member-Directed Pension Schemes has declared it has "serious issues" with aspects of the new capital adequacy rules.

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