Proposed automatic appointments with Pension Wise at the age of 50 could boost demand for independent financial advice, according to Quilter.

A lack of advice for pension savers risks destroying the flexibilities offered by the Pension Freedoms, according to a new report from MPs on the Work and Pensions Select Committee.

Pension providers must give pension savers a “stronger nudge” to get pension guidance when they decide to access their pension savings from June, the FCA confirmed today.

Only 14% of retirees over 55 took regulated advice and 4% took Pension Wise guidance before giving up work, according to a new report.