Millions of older workers are unaware of how much they have saved for retirement, prompting fears that they will miss out on an opportunity to boost their retirement pots.

More than six in 10 adults (62%) say that saving for retirement remains a “high priority”, despite the challenges of the cost of living crisis.

Standard Life has re-entered the annuity market as annuity rates rise and demand for annuities surges.

Pension transfer activity has continued its downward decline, hitting a five year low in July and dropping to half the level seen a year earlier.