More than four in ten retirees (42%) surveyed by Standard Life said they regretted failing to seek financial advice.

AJ Bell’s adviser platform Investcentre has axed two SIPP charges and cut several custody charges on its platform at the same time as it is increasing the amount of interest paid on clients’ cash.

Pension provider Aegon has urged the Government to consider a more flexible State Pension age and allowing early pension access to some people amid fears of further “significant” increases in the State Pension age up to 74 and the risk it could cause harm to many.

The Financial Ombudsman Service is forecasting that the number of complaints it is set to receive this year will hit 210,000 - nearly 30,000 higher than it predicted in December.

A year on since the increase in the pensions’ annual allowance, the majority of HNWIs (56%) are not utilising the extra £20,000 allowance available to them, new data from the Saltus Wealth Index Report has revealed.