New research for the ABI has found that up to 1.6m people may be losing out on £19.4bn in unclaimed pensions when they move house.

The total cost of the Coronavirus outbreak to British insurers is likely to total £1.2bn, according to initial estimates by the insurers’ trade body the Association of British Insurers.

Bad financial decisions now will haunt pension savers for the rest of their lives, the ABI has warned consumers.

As we head towards another Budget and tax year end, we are yet again considering the impact that the Pension Freedoms are having on those retiring now and in the future.