The Association of British Insurers (ABI) is urging firms to create a “vulnerability policy” by January for clients who may be at risk of poor financial outcomes due to age or other factors such as low literacy skills.

Nearly half the pension savers who have used pension freedoms to access their pension pot fear running out of cash in retirement, according to new research.

A large-scale consumer study has provided a more upbeat assessment of how the pension freedoms are working with half (49%) of retirees now finding the new phase of life “exciting.”

The Work & Pensions Committee is launching an inquiry into “whether and how far” the Pension Freedoms and other pension reforms are achieving their objectives and whether policy changes are needed to protect consumers better.