Nearly 1 in 3 financial advisers believe that the FCA’s new ‘Investment Pathways’ pension reforms - which come into effect today - will cut demand for retirement advice although some expect a boost to advice demand.

Pension savers withdrew £9.4bn flexibly using the Pension Freedoms in 2020, new HMRC data reveals.

News this week that the Government will press ahead with plans to push up the age for accessing the Pension Freedoms from 55 to 27 by 2028 will have surprised some and disappointed many.

HMRC has reported that  £2.3 billion was withdrawn from pensions flexibly in Q2 - a 17% fall year-on-year from the £2.8 billion seen in Q2 2019.