Pension consultancy Barnett Waddingham has warned that the potential axing of the RPI inflation measure by the government could have ‘seismic’ implications for pension schemes.

We all know that annuity sales have been in decline for some time with the rise in popularity of drawdown under the Pension Freedoms and the poor value they are perceived to offer.

Two of the world’s biggest financial businesses are to combine with Aon buying rival Willis Towers Watson for £23bn.

Defined benefit pension transfer values rose in February with Coronavirus fears spurring the rise, according to the XPS Transfer Watch Index, a monthly study of transfer values.

Pension savers are more likely to have a pension than 10 years ago but more are expecting to retire later than their parents’ generation.