The insurance and long-term savings sector has hit its target of raising £100m for charity through the Covid-19 Support Fund.

The Association of British Insurers has warned that Government proposals to reform the calculation of the Retail Prices Index (RPI) could cost pension savers £122bn if plans go ahead to implement the changes from 2025.

Insurers paid £90m over 7,000 life insurance claims to the families of people who died due to the Coronavirus pandemic between 1^st March and 31^st May 2020.

March and April saw big falls in the number of people enquiring about and accessing their pensions, according to data released today.