There was a last-minute surge of activity from SIPP investors at the end of the tax year as they used the week after the Easter bank holiday to max their annual allowances.

Hargreaves Lansdown is offering £25 cashback to clients who open a cash ISA in the next few weeks, depending on the amount transferred to its cash ISA platform.

A 65-year-old with a £100,000 pension could earn up to £7,430 per year from an annuity, the highest since last October, according to data from Hargreaves Lansdown.

People saved 18% more into their Hargreaves Lansdown SIPPs in the current tax year up to the end of December when compared to the previous year (April-December).