UK unemployment continued to rise in the three months to July, with those aged between 16 and 24 seeing the biggest drop in employment, according to new data from the Office for National Statistics (ONS).

Jon Greer, head of retirement policy at Quilter, has called on the Government to reform the pensions triple lock, saying that retaining it in its current form is not an option.

The UK economy has officially entered recession with two straight quarters of economic decline for the first time in 11 years, according to official Government GDP figures.

In its half year results, Quilter has doubled the funds it has put aside for redress for DB pension transfers that were undertaken by Lighthouse prior to its acquisition by the wealth manager and financial planner.