WASPI campaigners have lost a legal battle against Government handling of the rise in women's state pension age.

In response to the recent suggestion that the State Pension age should increase to 75, Aegon called on the Government to confirm pension freedoms will be available from age 55 even if the pension age is raised.

CPI inflation has risen to 2.1% contradicting earlier predictions that it would fall to 1.9% and is above the Bank of England’s 2% target.

Aegon has issued a warning over what it called the ‘little known’ money purchase annual allowance (MPAA), which stops people who have accessed their pension flexibly from contributing more than £4,000 into their money purchase or defined contribution pension without a tax penalty.