A leading pensions administrator is calling for pension holders who shift their pensions overseas purely for tax gains to pay more for the privilege as it warns the trend is placing an unnecessary burden on UK taxpayers.

Analysis by a pension consultancy has uncovered signs of potential scam activity in 1 in 12 pension transfer requests with unauthorised advisers among the worst culprits.

The Government is to move ahead with a raft of new measures to ban pension cold calling after a growing campaign to do more to protect consumers.

A leading pension provider believes the delayed Queen’s Speech - due to take place on Wednesday - will mean only limited pension reform as contentious issues are dropped to ensure the Queen’s Speech is passed by the Commons.