For British pensioners, paying income tax is now the norm rather than the exception, according to former pensions minister Sir Steve Webb.

More than 1m mortgages taken out in the past three years extend beyond the borrower’s state pension age, prompting fears that young home buyers are gambling with their retirement income.

More than half of pension pots are being cashed out in full as fewer people seek professional guidance, new figures from the FCA have revealed.

The latest official wage growth figures - published today by the ONS - mean the State Pension should rise to £11,501 in April 2024, a 8.5% rise from £10,600 this year.