Two providers have criticised reports that a government minister wants to open the door to first time buyers being allowed to tap their pension early to get on the housing ladder.

New research from Aegon has shown that around 70% of advisers are wary of giving advice on defined benefits due to the complexity of FCA regulations.

A director at Aegon has blasted today’s revelation that advisers will have to pay £175m in levy payments to the FSCS as “unfair”.

The State Pension is 110 years’ old this week but an increasingly ageing population could spell future uncertainty according to experts.