An MP has proposed plans to lower the age for auto-enrolment from 22 to 18 and to extend the scheme to lower and part-time earners.

Former work and pensions committee chairman Frank Field has been recognised for his “lifetime of public service” in the Queen’s New Year Honours list.

XPS Pensions Group, the actuarial, consulting and admin business, is to acquire the business and key assets of Manchester-based SIPP and SSAS provider Michael J Field Consulting Actuaries for £3.75m.

The FCA is to consult on launching a redress scheme for pension transfer victims of the British Steel Pension Scheme (BSPS) debacle.

The FCA has today approved the £280m takeover of wealth manager Charles Stanley by rival wealth firm Raymond James.