Canada Life has this morning closed its onshore bond and personal pension plan to new business with immediate effect after the company decided it could no longer be competitive in the areas.

US-owned investment manager Vanguard has added a drawdown option to its SIPP-based Personal Pension plan.

Retirement and protection specialist LV= has move to a tiered charging structure on its personal pension which will favour largers sums invested.

The proportion of complaints about advisers, which were upheld by the Financial Ombudsman Service, has fallen in the last year.