A director at Aegon has blasted today’s revelation that advisers will have to pay £175m in levy payments to the FSCS as “unfair”.

The State Pension is 110 years’ old this week but an increasingly ageing population could spell future uncertainty according to experts.

The launch, by the FCA and The Pensions Regulator yesterday, of a joint regulatory strategy aimed at taking action to deliver better outcomes for pension consumers has been backed by the profession.

Reports that the Government was considering a ‘Care ISA’ as part of its forthcoming Green Paper on Social Care have drawn sharp criticism from the profession.