Two thirds of IFAs recommend clients increase the retirement income they take and three quarters re-evaluate the role of annuities.

Standards for pension providers and schemes have also been approved by the Secretary of State for Work and Pensions.

The tools are designed to free up advisers’ time by making pension calculations easier.

Nine in 10 HNWIs say the current higher interest rate environment has impacted their lifestyle and financial planning.

The government announced that there will be no financial compensation for WASPI women, despite a report recommending compensation of up to £2,950 for each woman affected.

Former pensions minister Steve Webb says the news is "victory in 10 year campaign to end scandal of over-taxed pensions”.

Bell has completed this year’s annual statutory review of automatic enrolment thresholds.

The FCA's thematic review requires advisers to improve standards to demonstrate suitability of retirement income recommendations.

While two-thirds take 25% or less of their pension to stay within the tax-free allowance, 10% withdraw their entire pot.

30-year gilts yields are at their highest level since 1998.