Saga, the provider of services to older people, has warned that £3.2bn may have been cashed out of pension pots without any financial advice following the Pension Freedoms.

Financial Planning and investment management group Tilney has hired two new members to its advice team.

Over-50s feel they would need a £500k windfall to make financial advice worthwhile, according to new research.

The SIPP providers body AMPS (Association of Member-Directed Pension Schemes) has urged members to learn lessons from the implications of the recent Berkeley Burke SIPP court ruling but says the case is “no game changer.”