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New figures have revealed that around 60,000 people claimed a refund on emergency tax on pensions in 2023-24 - an increase of around 20% on the previous year.

More than 40m pension records have connected to the Pensions Dashboards ecosystem since April.

Six people were due to appear in court this week over a pension fund and SIPP fraud which involved £75m being invested in storage units in the North of England and Scotland.

The State Pension could climb by more than £550 next year thanks to the triple lock, as earnings growth outpaces inflation.

Chancellor Rachel Reeves is reportedly considering cutting the tax-free pension commencement lump sum in a bid to save more than £2bn a year for the Treasury.

Charging inheritance tax on unused pension funds will create confusion and increase the risk of gifting mistakes for the Bank of Mum and Dad and Gran and Grandad, equity release specialist Key Advice has warned.

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