A record 1m more people will reach the Pension Freedom age of 55 his year and this ‘peak’ will last for several years, according to new analysis.

The Financial Services Consumer Panel - which advisers the FCA on consumer interests - has appointed two new members.

Fintech firm Wealth Wizards, which combines Chartered Financial Planning and robo advice, has launched an automated ‘algorithmic’ abridged advice service for DB transfers.

Financial adviser Frenkel Topping has launched a joint venture with personal injury specialists Express Solicitors.

The FCA has launched a probe into DB transfer advice given by advisers at Lighthouse Group - now part of Quilter.

The industry is split on its response to the FCA’s ban announced today on most contingent charging on DB pension transfer advice.

The Pensions Regulator and the Financial Conduct Authority have published a joint ‘plain English’ guide for DB pension savers to warn them of the risks of transferring their pension.

The FCA says that 47% of the DB pension transfer advice given to members of the British Steel Pension Scheme was ’unsuitable’ with only 21% ’suitable.’

The Financial Conduct Authority says it will ban most contingent charging on DB pension transfers as part of a raft of measures designed to tackle ‘weaknesses’ in the DB transfer market.

Royal London is to absorb Police Mutual following a vote by Police Mutual policyholders in favour of a merger.