New figures from the Office of National Statistics have revealed that retired households saw a bigger jump in disposable income than their non-retired counterparts.

The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.3% in June 2018, unchanged from May 2018 despite expectations of a rise.

Pension transfers hit a new record of £10.6bn in the first quarter of 2018, ONS figures have shown.

ONS data released today showed a slowing of improvement to mortality rates – a development which could push back the increase of state retirement age, according to Royal London.