I must confess I always had reservations about the Pension Freedoms when they were introduced by George Osborne in 2015 and the latest FCA figures seem to back up comments I made at the time.

Sanlam has released its half-yearly Income Study, which it described as “the definitive investor guide to UK equity income funds.”

Royal London Asset Management plans to launch a monthly income bond fund later this year aimed mainly at IFAs’ clients and wealth managers.

The biggest change to the personal taxation system in a generation could be coming in next week’s Budget if proposals to reform income tax are adopted, an analyst believes.