The CFO of Lloyds Banking Group has urged the government not to extend its planned increase in the bank corporation tax surcharge beyond March 2028, arguing that a prolonged levy could undermine lending, investment and the UK's competitiveness as a financial centre.

Speaking after the lender's third-quarter results, CFO William Chalmers said the industry accepted the government's fiscal challenges but warned that higher taxes on banks were "unhelpful" to economic growth objectives

For most employees, pension saving happens in the background. Contributions are paid in each month, but few people make an active investment choice.