One in 20 (4%) defined benefit (DB) pension schemes remained open to new members in 2023, new data published today by The Pensions Regulator (TPR) shows.

Pension savers could be left more than £70,000 poorer in retirement due to overlooking charges when they transfer their pension pots, provider People’s Partnership has warned.

SIPP and SSAS provider body the Association of Member-Directed Pension Schemes (AMPS) has called on the DWP to announce a timetable for decisions over the future of its general levy.

Stockport-based adviser Smith Holdings Ltd, trading as Life Time Independent, has been declared in default by the Financial Services Compensation Scheme (FSCS).