The Budget pension reforms do pose a risk of leading to misselling, the FCA's chief executive has admitted, following concerns raised by MPs.

The annual contribution limit and transfer restrictions on the National Employment Savings Trust will be lifted, the Pensions Minister announced this morning.

An organisation which represents schemes providing pensions for over 17 million people has labelled the new options for retirees arising from the Budget reforms as "baffling".

There was a 46% rise in the number of complaints about Sipps made to The Pensions Advisory Service in the last year.

In November last year, the FCA asked Sipp operators to complete a (long) questionnaire to help them with their third thematic review. Among the 40 or so data items requested was the amount of Assets Under Administration (AUA).

A ruling against a Sipp operator which sparked fears of a precedent being set and a rise in claims will be reviewed by The Financial Ombudsman Service.