Only 35% of pension savers are confident about making retirement decisions, a new report suggests.

Four out of five people aged 55 or over are charting their own path to retirement and turning their backs on guidance and advice, according to new research.

More than four in ten retirees (42%) surveyed by Standard Life said they regretted failing to seek financial advice.

HMRC has said that it intends to issue a second set of regulations changing the legislation governing the lifetime allowance abolition.