New calculations from pension provider Aegon reveal that it would cost £250,000 to buy a lifetime guaranteed income to match the current state pension payout.

The FCA has banned four financial advisers, three provisionally, over “reckless” pension transfer advice which has so far cost £13.4m in compensation payments.

SSAS provider and tax adviser WBR Group has appointed corporate lawyer Roy Botterill as director of law.

The £432m private equity takeover of SIPPs and Financial Planning firm Mattioli Woods is set to complete this week after achieving High Court approval.

The percentage of professional complaints about pensions and annuities to the Financial Ombudsman Service - including from claims management companies - showed a surprise fall in the latest quarterly period, in marked contrast to a surge in professional complaints overall.