The ABI and two major pension providers have reported a surge in enquiries about retirement planning after the reforms took effect on April 6.

The increasing number of adult children living with their mum and dad could be sapping their parents' savings and affecting their plans for retirement, a think tank has warned.

A report on workplace pensions has found "encouraging" results showing significantly more employees have been saving adequately for retirement since the introduction of auto-enrolment.

The chief executive of Scottish Widows has warned that the pensions industry is in danger of "breaching its capacity to cope" with the radical overhaul of the system underway.