New data from the Association of British Insurers has revealed “alarming” numbers of pension savers entering retirement and pensions drawdown without taking any financial advice.

Many platform providers and experts have welcomed the FCA’s potential ban on platform exit fees but some have warned that a level playing field is needed to ensure platforms are not disadvantaged.

Carpenters Group has become the ABI’s latest associate member.

Sainsbury’s Bank has joined the Association of British Insurers (ABI) as an associate member.