Legal & General group has appointed António Simões as its new group CEO to replace Sir Nigel Wilson who is retiring.

Legal & General chief executive Sir Nigel Wilson will retire this year once a replacement is found, after more than a decade in the role and 14 years with the firm.

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

A major new study suggests that 3.3m pre-retirees have started ‘phasing’ into retirement by reducing hours and cutting back responsibilities.