Annuity rates have climbed again meaning a 65-year-old with a £100,000 pension pot should be able to buy an annuity income of up to £7,144 per year, up from £7,027 two weeks ago and an increase of 20% on the same period last year.

There needs to be fundamental reform to the State Pension to prevent later life poverty from worsening as the pension age rises, a new report warns today.

Professional body the London Institute of Banking & Finance has been acquired by German educational technology provider IU Group for an undisclosed sum.

Wealth manager and platform Quilter says the ‘stronger nudge’ towards pensions guidance, introduced a year ago, has so far produced “lacklustre” results and needs to be beefed up.

Adviser platform Transact has criticised the approach some other platforms have taken towards cash handling and the use of cash interest.