The cost of a comfortable retirement has increased by nearly a fifth in the last two years as average spending by retired households climbs to £23,675 a year, new analysis of the latest Government data has shown.

The break-even point for retirees to get their money back from an annuity investment has fallen by five years as rates rise, according to Canada Life.

Sales of annuities surged more than a fifth during the first three months of the year to reach their highest level for eight years.

Nearly one in 10 (9%) over-60s say they are planning to delay their retirement indefinitely due to the cost of living crisis, according to a new study.

Discretionary fund manager 7IM has launched what it describes as a “pioneering” Retirement Income Solution (RIS) on its platform.

More than one in four over-55s (26%) believe they will still be working past 70 due to the cost of living crisis, according to a new survey.

Almost nine in ten (86%) early retirees between 50 and 54 would consider a return to work as the cost-of-living crisis continues to hit their finances.

Over one in five (21%) of over-40s have already pushed back their planned retirement date due to the cost-of-living crisis, according to new research.

The top 10 life and financial goals of Britons have been revealed, with 97% of people saying it is important to set key goals in life.

Over half (54%) of UK adults have had their plans to retire affected by the Coronavirus pandemic, according to new research.