Life expectancy has improved slightly for men and women at both birth and age 65 after many years of stagnation, latest ONS figures show.

The Office for National Statistics says that the pace of improvement in life expectancy has slowed considerably in the last few years.

In total £535m has now been repaid to investors who were overtaxed on pension freedoms withdrawals since April 2015.

The Personal Finance Society (PFS) has branded the findings of an FCA survey, released yesterday, which showed nearly 50% of pension savers accessed their pension pots in the past 12 months without taking any regulated advice or guidance, “alarming”.