No plans to raise minimum contributions

'There's a service out there not being used by people who could do with expert guidance'

The state pension age is set to rise more quickly than anticipated, according to experts, after official statistics showed the extent to which life expectancy had increased over the last century.

The Pensions Regulator (TPR) issued 424 fixed penalty notices and five escalating fines against employers for auto-enrolment failures in the year to March.

The National Employment Savings Trust (NEST) quadrupled its assets under management over the year to the end of March to £420m, according to its annual report.

The Pensions Regulator (TPR) is considering bringing its guidance to trustees of large schemes on communicating new retirement flexibilities in line with Financial Conduct Authority (FCA) rules.

Pensions minister Ros Altmann has warned the industry against complacency over auto-enrolment, as the project reaches its half-way point.

The government must rein in pension promises, or find the funds to back them as the state's unfunded liabilities approach £6trn, argues the Centre for Policy Studies (CPS).

The government has pledged to keep the triple lock on state pension increases until 2020 and to leave pensioner benefits such as the winter fuel allowance untouched.