Experts have reacted to concerns in an FCA report, which warned those who choose to take pensions drawdown without advice risk financial “harm”.

Nearly 3 in 10 savers think checks aimed at preventing pension scams are ‘unnecessary’, while a similar proportion failed to spot scamming tactics when tested.

The FCA’s findings in its Retirement Outcomes Review are ‘disturbing’ and show ‘bonkers’ behaviour from savers, industry commentators said this morning.

Small businesses trying to get to grips with Automatic Enrolment for the first time are the target of a new online service.