Proposed pension reforms included in next week’s Budget will create chaos and put bereaved families and ordinary people at financial risk, according to STEP, the global professional body for trust and estate practitioners.

Over the past 24 hours, coinciding with her Mansion House speech, Chancellor Rachel Reeves has announced at least 12 significant financial services reforms.

The Investment Association has set out a series of recommendations it hopes will ensure that reforms undertaken as part of the Government’s Pension Review deliver better retirement outcomes and support economic growth.