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A study has suggested about 23 million people in the UK have not reviewed their pension plans at all over the past four years.

Over a million people have become financially responsible for both younger and older family members, according to a study.

Changes to pension rules have provided members of older schemes with a "rare window of opportunity" to transfer to a new pension arrangement and retain any higher tax-free lump sum, a Sipps firm believes.

The taxman has rubbished a report stating that many retirees will be "clobbered" with a 45% tax next April.

The James Hay Partnership has reported a "dramatic" increase in funds on platform.

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