Standard Life, part of Phoenix Group, is backing the Samaritans charity with a series of activities ahead of Christmas to ensure people know where to turn to if they are struggling to cope during the festive period.

Average annuity rates climbed to 7.25% for a 65-year-old in September, up from 7.11% in June, according to the Standard Life Annuity Rate Tracker.

Pension firm Phoenix said it doubled its long-term cash generation in the first half of the year despite a “challenging market environment.”

Three-quarters of UK adults are clueless about how much is in their pension pot, according to new research.