Research into the under-35s has revealed widespread ignorance of the pensions freedoms, two years on from the changes, with 7m saying they know “nothing” about the pension revolution.

Increasing numbers of advice firms are actively planning to hire more staff this year, according to a report.

Over-55s increasingly view a drop in return on savings as a threat to their financial health in the next five years.

A prototype of the Pensions Dashboard will be ready by March 2017, the Government has revealed.