Six more providers have signed up for the Pensions Dashboard initiative which will aim to give consumers a central point to monitor all their pension arrangements.

The ABI is urging the Chancellor to announce a freeze on any further rises in insurance premium tax, warning that recent rises have added £100 a year to household bills.

Insurance Premium Tax will rise to 10% from tomorrow (1 October) - an increase that will affect more than 50m households, says the ABI which has branded the hike a “raid on the responsible.”

The number of individual income protection policies has increased for the first time since 2007, new figures have shown.