Advisers are urged to focus on the Consumer Duty challenge posed by the inclusion of unused pension funds in estates.

45% of new State Pension recipients, around 2 million people, do not get the full entitlement.

Newly retired women now receive 99% of the weekly pension amount paid to men.

From 6 April 2027, most unused pension funds and death benefits will be included in the value of an individual’s estate for IHT purposes.

Key is calling for advisers to focus on the later life lending advice obligation created by changes in IHT rules coming into effect in April 2027.

The measure will bring unused pension funds and death benefits into the scope of inheritance tax from April 2027.

The government is set to begin its latest review of the state pension age earlier than expected.

Tomorrow’s retirees are on track to be poorer than today’s, the research shows.

The two models meet the Government’s revenue objectives while avoiding the risk of delays, confusion, and added pressure on bereaved families.

Potential cuts are ‘firmly on the agenda’, former pensions minister Steve Webb warns.