The FCA has called on advisers and providers to think beyond email messages to boost pension engagement with consumers.

An estimated 340,000 more pensioners will pay income tax on their State Pension next year due to the Triple Lock pushing up the State Pension above inflation.

The Financial Ombudsman Service has reported a record 8,734 fraud and scam cases in just a three-month period this year, the highest ever quarterly level.

New calculations from pension provider Aegon reveal that it would cost £250,000 to buy a lifetime guaranteed income to match the current state pension payout.

The FCA has banned four financial advisers, three provisionally, over “reckless” pension transfer advice which has so far cost £13.4m in compensation payments.