Pension lifetime allowance (LTA) penalty charges surged by 21% in 2019-20 to £342m (2018-19: £283m), according to data released by HMRC.

Inheritance tax receipts rose 35% between April and August, up a third year on year, with Covid-19 deaths a potential factor in the increase.

Employment rates for people between 50 and 64 have fallen slightly, according to a report released by the Government, but many industry experts and leading Financial Planners expect this to be a 'blip.'

Investment platform consultancy the lang cat has recruited Tom McPhail, the high profile former Hargreaves Lansdown pension spokesman and head of policy, to be its new director of public affairs.