The FCA's 'fresh thinking' has been welcomed by pension experts.

Nearly a quarter (23%) of people say they don’t know where to start when it comes to switching provider.

1 in 5 said they had reduced their regular overtime this year due to the tapered annual allowance.

More than half (52%) of advisers say their clients will be impacted by the rule change.

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”.