The Financial Conduct Authority has warned two IFAs and a stockbroker that they face fines and regulatory action over their alleged role in a £5.9m SIPP pension transfer scam.

Almost a quarter (24%) of those retiring this year are quitting work earlier than intended due to the impact of the Coronavirus pandemic, according to a new report.

Pension transfer values briefly hit a new high in August as the FCA reviews potential redress for unsuitable transfer advice.

A father and son duo behind a failed SIPP firm - which saw investors hand over nearly £92m - have been banned as directors after repaying themselves over £1.3m ahead of creditors.

Joanne Lake, chairman of wealth manager and SIPP provider Mattioli Woods, is to step down next month.