The government has decided against introducing a financial compensation scheme for those affected by the delayed state pension age letters. 

92% of clients were advised to transfer out of their defined benefit pension schemes, resulting in over £126m of funds being transferred.

The regulator says millions of people could get more support with their pensions under new proposals.

Homeowners could release an average of £69,600 worth of equity release from their homes using equity release – a 20% increase on five years ago.

New figures show that mortgage lending past pension age is now an "entrenched feature of the mortgage market".

The regulator will explore whether targeted support and simplified advice could better support pension savers.

The firm warns that an increase in transfers will "lead to an increase in poorly informed pension transfer decisions".

Reeves said regulatory changes after financial crisis created a system which sought to eliminate risk taking "that has gone too far". 

The current average gap in pension savings at retirement shows women trailing men by about £100,000.

Annuity-holders are more likely to report lower levels of stress and the highest level of financial confidence compared to those without one.