The Financial Conduct Authority has banned Darren Reynolds and Andrew Deeney of Active Wealth Limited for dishonest pension transfer advice.

The FCA has banned financial advisers Keith Dickinson and Andrew Allen for British Steel Pension Scheme transfer advice failings and ordered them to pay £155,000 in compensation.

Millions of older workers are unaware of how much they have saved for retirement, prompting fears that they will miss out on an opportunity to boost their retirement pots.

The Financial Conduct Authority plans to fine company directors Toni Fox £681,536 and David Price £632,594 over their roles in £392m of mostly "flawed" pensions transfers.