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Around 2.4 million grandparents are breaking open their pension piggy banks to help their grandkids, a study has indicated.

SSAS sales at Xafinity have risen every quarter this year, the firm reported, with about a typical year’s worth coming in just six months.

Nearly one in four over-55s plans to take cash out of their pension funds while still working.

About 14 million people aged 25-34 could be underestimating the pot they need at retirement by nearly £400,000, new research has suggested.

The CII is to launch a new pensions exam unit to support professional standards in the sector.

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Retirees smashing open pension piggy bank for grandkids