In response to the recent suggestion that the State Pension age should increase to 75, Aegon called on the Government to confirm pension freedoms will be available from age 55 even if the pension age is raised.

The Pensions Regulator has fined a firm £350,000 for failing to fully comply with its pension duties.

Advisers continue to seek returns from around the world, with figures from FundsNetwork revealing the global sector remained the most popular during July.

Royal London has warned against a “drastic” proposal to raise the State Pension age to 75.