People retiring today are having to cope with a 46% drop in their pension income compared to 10 years ago before the credit crunch too effect.

The platform sector saw continued rapid growth in the second quarter thanks to inflows from Pension Freedom business and ISA sales, according to analysts.

Financial services providers have given an overwhelmingly negative reaction to the general election which has resulted in a hung parliament today.

Fidelity global economist Anna Stupnytska says the world economy is moving into "uncharted territory" as we experience the first year since the financial crisis of 2008 when central banks will fail to pump extra liquidity into world economies.