An estimated 340,000 more pensioners will pay income tax on their State Pension next year due to the Triple Lock pushing up the State Pension above inflation.

The government-backed Money and Pensions Service (MAPS) has today launched Pension Wise Digital, a digital version of its face to face service, to expand its free guidance offering to more people.

The FCA has banned four financial advisers, three provisionally, over “reckless” pension transfer advice which has so far cost £13.4m in compensation payments.

The Financial Ombudsman Service has reported a record 8,734 fraud and scam cases in just a three-month period this year, the highest ever quarterly level.

New calculations from pension provider Aegon reveal that it would cost £250,000 to buy a lifetime guaranteed income to match the current state pension payout.

SSAS provider and tax adviser WBR Group has appointed corporate lawyer Roy Botterill as director of law.