The disclosure regime should reflect the digital age and how consumers obtain and use information in other walks of life, according to Aegon.

A new consumer finance survey carried out this month suggests that 32% of people have cut back on saving due to the cost of living crisis.

Research of the adviser market has shown a sharp rise in the number using income drawdown modelling tools, with over half (51%) using the tools compared to 38% last year.

There has been a surprise decline in the number of advised clients ‘phasing’ retirement since the pandemic.