More than four in ten retirees (42%) surveyed by Standard Life said they regretted failing to seek financial advice.

HMRC has said that it intends to issue a second set of regulations changing the legislation governing the lifetime allowance abolition.

A fifth of over 50s rely on DB pensions to provide almost half of their retirement income but the numbers are set to fall, according to Standard Life’s Retirement Income Almanac.

Almost one in five (16%) Britons accessed pension savings without understanding the rules before doing so, according to a new report.