Pensions consultancy LCP is calling for a ‘magnetic pensions’ strategy to help tackle a leap in small pension pots, estimated to be increasing at 2m a year.

Insurance and savings trade body the ABI has warned the Department for Work and Pensions (DWP) that a public pensions 'consolidator' must avoid undermining the DB scheme buyout market.

More than half of pension pots are being cashed out in full as fewer people seek professional guidance, new figures from the FCA have revealed.

The FCA’s latest retirement income market data for 2022/23 published today has revealed that the money being withdrawn from pension pots is falling, dropping 5% to £43,199m from £45,638m in 2021/22.