The FCA’s latest retirement income market data for 2022/23 published today has revealed that the money being withdrawn from pension pots is falling, dropping 5% to £43,199m from £45,638m in 2021/22.

The number of active FCA-authorised individuals dropped significantly in March with a net loss of more than 800 people on the FCA Register/Directory, according to data services provider Autus.

Fund manager Neil Woodford and his company Woodford Investment Management are to challenge the FCA’s findings on the management of liquidity for the Woodford Equity Income Fund, according to their lawyers.

The FCA has today published a warning notice against Neil Woodford and Woodford Investment Management alongside its findings against Link Fund Solutions.