The Financial Services Compensation Scheme has declared a Nottingham-based wealth manager in default amid a flood of claims, many relating to SIPPs transfers.

I have written before about my concerns about the way the Financial Ombudsman Service is reaching decisions in cases involving SIPPs and SIPP investments and the implications for SIPP providers and advisers.

Client assets at wealth manager and SIPP provider Mattioli Woods rose 42% to £15.1bn over the six months ending 30 November 2021.

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.