A new policy paper from Royal London predicts ‘safety first’ policies on pensions in the manifestos of the major political parties.

In total £535m has now been repaid to investors who were overtaxed on pension freedoms withdrawals since April 2015.

New figures published today by HMRC show that a total of £30bn has been withdrawn ‘flexibly’ from pensions, taking advantage of the new ‘pension freedoms’ introduced in 2015.  

The FCA has set out plans to ban advisers from contingent charging based on a positive recommendation to transfer out of a defined benefit scheme.