A leading pensions administrator is calling for pension holders who shift their pensions overseas purely for tax gains to pay more for the privilege as it warns the trend is placing an unnecessary burden on UK taxpayers.

HM Revenue and Customs says it has won what it believes to be a landmark case against a tax avoidance scheme promoter that could lead to it recovering £110 million in lost tax revenue.

A government-backed working party has found that sending pension savers a single A4 ‘Pension Passport’ sheet summarising their pension pot can improve consumer action and engagement significantly.

Wealth manager and Financial Planning group Sanlam UK has hired former journalist Charlie Parker as its new head of portfolio management.

The Financial Conduct Authority has today gone live with its new Asset Management Authorisation Hub which is designed to help new firms launch fund management services.

The UK’s top 10% earners have had to work hardest to maintain their standard of living due to the impact of inflation over the past 20 years, according to a study from Financial Planning and wealth management firm Tilney.

The Consumer Prices Index (CPI) 12-month inflation rate crept up to 3% in September from 2.9% in August - the highest rate since March 2012.

A nationwide survey of 1,000 middle income earners aged 45 to 55 has found that one in eight have no idea when they will be able to retire despite having a higher than average income.

Financial Conduct Authority chief executive Andrew Bailey has said that the regulator will push ahead with its plans to shake up the fund management sector to give investors better value for money.

The FCA’s Financial Lives Survey, published today, has revealed that 15m working people are failing to pay into a pension and are making little provision for retirement.