The insurance and long-term savings sector has hit its target of raising £100m for charity through the Covid-19 Support Fund.

New data from the Association of British Insurers has revealed “alarming” numbers of pension savers entering retirement and pensions drawdown without taking any financial advice.

The Association of British Insurers (ABI) and National Employment Savings Trust (NEST) have launched a partnership, boosting the relationship between the insurance and long-term savings trade body and the Government-established workplace pension scheme.

Ahead of the Budget, the ABI has called on Chancellor Philip Hammond to end what it called ‘salami-slicing’ of cutting pensions tax relief.