Pensioner poverty is at a record low level, according to a study from the New Policy Institute.
The Association of Investment Companies has backed the idea of giving retirees vouchers for pension advice and questioned the Government's 'curious' approach to the guidance guarantee.
Retirees can expect to see their income drop by two thirds when they leave the workplace.
People set to retire this year will be spending £3,000 per year on average helping family members who are struggling financially.
A study looking at why people may be retiring later has suggested nearly three quarters of the workforce fear their pension pot will not be large enough.
More than one in ten retirees spend less than an hour arranging their retirement plan, a survey has shown.
The rising cost of living has added the equivalent of an extra month of bills per year for people close to retirement, research has shown.
Analysis from Prudential reveals the South West England as the most popular place to live in the UK for retirees, with more pensioners per head in Christchurch, Dorset than anywhere else in the country (see tables).
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