CISI chief executive Simon Culhane Chartered FCSI has warned that a lack of a central register to check who is an authorised adviser is damaging consumers and consumer confidence.

Royal London says new life and pensions business rose by 40% to £6.7bn in its results for the year ended 31 December 2015.

The vast majority of consumers (88%) are missing common warning signs of a pensions scam including a growing trend by scammers to offer bogus “free financial advice”, the Citizens Advice Bureau has warned.