Nearly a quarter (23%) of people say they don’t know where to start when it comes to switching provider.

1 in 5 said they had reduced their regular overtime this year due to the tapered annual allowance.

More than half (52%) of advisers say their clients will be impacted by the rule change.

Two thirds of IFAs recommend clients increase the retirement income they take and three quarters re-evaluate the role of annuities.

Bell was previously chief executive of the Resolution Foundation.

The regulator will explore whether targeted support and simplified advice could better support pension savers.

Reeves said regulatory changes after financial crisis created a system which sought to eliminate risk taking "that has gone too far". 

The current average gap in pension savings at retirement shows women trailing men by about £100,000.

Annuity-holders are more likely to report lower levels of stress and the highest level of financial confidence compared to those without one.

This brings consumers’ choice of potential dashboards to 16.