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The FSCS, the government-backed financial safety net scheme, has published a series of case studies to warn consumers about the potential risks of consolidating pensions into one plan.

There was a near 10,000 rise in the number of complaints about SIPPs and non-workplace pensions in the first half of 2023, according to the latest FCA Complaints Data report.

Advised customers increased 10% year-on-year to 159,256 for platform and SIPP provider AJ Bell for the year ending 30 September.

Hargreaves Lansdown has reported an 8,000 rise in client numbers to 1.812m in the latest quarter thanks - in part - to a rise in SIPP customers, according to a trading update issued today.

Retirees are set to receive a 8.5% increase to their State Pension from April next year as CPI inflation held steady at 6.7% for the year ending September.

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