Weekly pension income has only increased by 1% p.a. in real terms over the last decade, while house prices have jumped by two-thirds.

Reintroducing the charge could raise almost £800 million a year but risks causing an exodus of senior public sector workers.

When given four options, 39% selected the incorrect definition of the three factors that make up the triple lock, while 26% admitted they did not know.

Pensioners would get a personal tax allowance that rises in line with the triple lock under the new scheme.

A range of factors, including rise in supplier costs and delivery timetable being extended by two years, have increased the programme’s estimated cost by 23%.

HMRC said that retirees "may need to wait until the regulations are in place before taking or transferring certain benefits".

Timpson has resigned from the Prime Minister’s Dementia Friendly Communities Champion Group over DWP's practices.

43,000 claims have been made relating to pension products provided by financial providers and advisers that had gone out of business.

Despite 42% of HNWIs previously saying they planned to contribute the full £60,000, only a third have contributed more than £40,000 and just 8% more than £50,000.

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