Andrew Marker has succeeded Tom McPhail as chair of the STAR Steering Group, a key cross-industry tech initiative, after the founding chair left the industry in June.

The STAR initiative, the cross-industry group aiming to improve the transfer of pension and investment assets between providers, is to seek a new chairman following the decision by its chairman Tom McPhail of Hargreaves Lansdown to leave the industry.

The Pensions Policy Institute has warned that a Government change to the inflation measure could cut lifetime pension income by up to 21%.

The Association of British Insurers has warned that implementing the FCA’s platform switching changes by July will be “challenging.”