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The influential Work and Pensions Commitee is to re-open its inquiry into auto-enrolment to assess the affect of the new Lifetime ISA (LISA) on auto-enrolment.

The ABI says that sales of annuities have risen in recent months, according to its latest pension report published one year after the Pension Freedoms.

Research conducted by Barnett Waddingham, the provider of consultancy and actuarial services, has found that UK employees suffer from “major gaps” in pensions knowledge.

Analysis of withdrawal trends at one pension provider during the first year of pension freedom show that full withdrawals represented just 1% of all withdrawals and the majority (77%) of full withdrawals were less than £30,000 in value.

James Hay’s parent company has reported that new Sipps went up 92% to 12,084 last year.

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