The UK’s wealthiest retirees paid themselves annual pension income of around £3m each last year but lost almost half of that in tax, according to figures published for the first time today.

Younger workers are much more money-minded than people might expect and are saving aggressively to achieve an ambitious retirement, according to a new report.

More than 3,800 young people have benefited from insurance and Financial Planning virtual work experience programme during the first year of its operation.

One in nine (12%) of UK adults have admitted to losing money to a financial scam in the last year.

Integrafin, the parent company of adviser platform Transact, has reported record funds under direction on the platform of £64.1bn for the three months to the end of September.

The Financial Ombudsman Service (FOS) is normally seen as a bastion of stability but this view has been rocked in the past week with the sudden and unexpected departure of CEO and Chief Ombudsman Abby Thomas.

The news this week that the FCA has axed a requirement for the boards of regulated firms to have a dedicated Consumer Duty Champion - only introduced 18 months ago - was met with some raised eyebrows.

There was a distinct whiff of change in the regulatory air this week with the FCA rapidly jettisoning plans which would have seen more rules and regulations added to its handbook.

There is a major force reshaping pensions and it is unstoppable, it’s called demographics and it will require the pensions industry to rethink everything it does.

It’s a shame to admit it, but fear is clearly driving demand for Financial Planning advice in some quarters.