There has been a big jump in demand for retirement advice on transfers from Defined Benefit schemes since pension freedoms took effect, newly released figures have shown.

A pensions expert says she has been disturbed to discover the new freedoms may be working to the detriment of many retirees as they take out their cash and stash it in savings accounts, suffering a tax hit as a consequence.

The FCA must fire a warning to firms that barriers stopping savers accessing their pensions are unacceptable, the Government has commanded. Read more...