Despite the cost of living crisis, only a minority of consumers are prepared to reduce their pension contributions, according to a study.

Transact parent IntegraFin Holdings issued a trading statement today saying that the group was “performing well” with adjusted pre-tax profit for the year ended 30 September expected to be “moderately above” the top end of analysts’ estimates.

A total of over £114bn has been invested in Automatic Enrolment pensions by nearly 11m people since they were first launched 10 years ago, new government figures published today show.

The State Pension could reach £220 by 2024, according to calculations from wealth manager and Financial Planner Quilter based on Bank of England predictions.

Laura Trott MP has become the new Pensions Minister, the Department for Work and Pensions announced today.