The Pensions Regulator has banned Stuart James Garner, 54, the former owner of Norton Motorcycles, from acting as a pension trustee again after he was found guilty of using pension fund money to invest in his failing business.

The exodus of pension trustees is set to gather pace with the number planning to step down within a year up by a third.

Two former trustees of a company pension scheme have been given suspended sentences for making illegal loans of £236,000.

The pensions industry has been given more time to prepare for the Pensions Dashboards next year.