Insurer Aviva is buying the UK protection arm of American International Group (AIG) for £460m.

Aviva has called on the government to provide more support for younger pension savers after its research revealed that many were in the dark about how much they needed to save.

Wealth manager and Financial Planner Succession Wealth - recently bought by Aviva for £385m - has acquired £170m AUA Edinburgh-based IFA Spence & Spence for an undisclosed sum.

Royal London, Aviva and AJ Bell have topped the list of the most recommended pension providers in Defaqto’s newly-released Pension Service Review.