AJ Bell says its review of the latest government statistics suggests member contributions to defined contribution schemes have fallen although the decline in pension saving could reverse soon.

The Consumer Prices Index (CPI) 12-month rate was 3.0% in December 2017, down from 3.1% in November 2017, ONS reported today.

Inflation, as measured by the Consumer Prices Index, rose from 3% in October to 3.1% in November although falling prices for products such as travel goods and financial services prevented a bigger rise.

Individuals will need to plan ahead better in light of new government life expectancy figures, says AJ Bell, provider of pensions, investment and stockbroker services.