Nearly half (47%) of retirees are unaware of the pension freedoms or the options available to them to access their pensions, according to research by Old Mutual Wealth and YouGov.

Old Mutual Wealth, the South African-owned provider going through a major restructuring, plans to rebrand as Quilter next year in a move that will mean its adviser network Intrinsic rebranding as Quilter Financial Planning.

Old Mutual Wealth Private Client Advisers has acquired IFA firm Coleman Clough of Shipley, West Yorkshire, to add £33m in assets under advice to its national Financial Planning business.

More than 500,000 people are continuing to work past retirement age as ’silver entrepreneurs’ and the growing numbers require a new approach to auto-enrolment and pensions policy, according to the provider which carried out the research.