Wealth manager trade body PIMFA has called for a clear tax road map to stem the tide of people accessing their tax-free pension cash because of speculation and headlines.

Chancellor Rachel Reeves has stepped back from plans to introduce a flat rate of tax relief, according to newspaper reports.

Chancellor Rachel Reeves is likely to take a close look at pension tax relief as she looks at ways to raise money for the Treasury in her first Budget next month, consultants LCP have warned.