Last year, a whirlwind of change hit the pensions industry as schemes and advisers raced to prepare for the removal of the lifetime allowance, while HMRC staff scratched their heads over exactly how it could be done before the end of tax year deadline, writes Beth Joslyn, of AJ Bell (standing in for Lisa Webster who is on holiday).

Some investment and SIPP providers have been retaining interest earned on cash-holdings to subsidise loss-making platforms, according to an FCA study published today.

Two-thirds of advisers (66%) have changed their processes as a result of the FCA’s Thematic Review of Retirement Income Advice published earlier this year.

The Financial Services Compensation Scheme has declared two pension adviser firms as failed.

The government-backed Money and Pensions Service (MAPS) has today launched Pension Wise Digital, a digital version of its face to face service, to expand its free guidance offering to more people.