NS&I, the government-backed savings provider, has promised better service after being overwhelmed by a surge in business in the second half of 2020 before it slashed its rates.

The government plans to legislate for a major expansion of its Dormant Assets scheme to add selected insurance, investment and pension products.

Chancellor Rishi Sunak will present his next Budget to MPs on 3 March.

The UK Government has rejected calls for a review of the impact of pensions tax relief.