Aegon has launched a new financial wellbeing guide.

Aegon has reported a sharp rise in platform assets in the first half to £140bn as it completed its integration with acquisition Cofunds.

CPI inflation has risen to 2.1% contradicting earlier predictions that it would fall to 1.9% and is above the Bank of England’s 2% target.

Aegon has issued a warning over what it called the ‘little known’ money purchase annual allowance (MPAA), which stops people who have accessed their pension flexibly from contributing more than £4,000 into their money purchase or defined contribution pension without a tax penalty.