PIMFA has called on the Government and the Financial Conduct Authority (FCA) to urgently reform the supervision of financial advice and consumer compensation through the Financial Services Compensation Scheme (FSCS).

A leading pensions analyst has welcomed the abandonment of what he branded the “perverse policy” of pot follows member.

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.