Soaring inflation means that retirees need 20% more income to retire on a basic standard of living than last year, according to a new report from the Pensions and Lifetime Savings Association.

Three financial firms, including a Financial Planning firm, have been declared as failed since the start of the year by the Financial Services Compensation Scheme.

Nearly one million people are considering annuities for the first time as a result of rising annuity rates, according to a new prediction.

The FCA is planning to update its guidance, introduced during the Covid-19 pandemic, to provide more support to insurance customers facing financial difficulty.

Platform and retirement provider Embark has launched The Paraplanner Room, a new hub for Paraplanners providing topical information and tools.

The Financial Conduct Authority has fined Nigerian-owned Guaranty Trust Bank (UK) Limited (GT Bank) £7.67m for “serious weaknesses” in its anti-money laundering (AML) systems and controls.

The Society of Trust and Estate Practitioners (STEP) has elected Tony Pitcher TEP, chair of the Jersey board of Altum Group, as its new worldwide chair.

Financial Planner and wealth manager Progeny Wealth has been awarded Chartered firm status by the Chartered Insurance Institute.

Adviser platform Transact has created an inheritance tax index to enable advisers to track IHT liability trends with their clients.

Alasdair Walker FPFS, the chair of the Personal Finance Society’s (PFS) Financial Planning (Power) Panel, has become the latest person to quit his PFS role.