Four out of five workers fear they will have to work longer until retirement because of the cost-of-living crisis.

Two thirds (66%) of financial advisers see their main role during the cost-of-living crisis as providing reassurance and peace of mind for clients, according to a new report.

Major new consumer research by the Financial Services Compensation Scheme (FSCS) has revealed that 23% of people have either cut or halted pension contributions in the past months as they struggle to cope with the cost of living crisis.

The cost of living crisis could lead to mass breaches of the money purchase annual allowance (MPAA) as more people flexibly access taxable income from their retirement pot to cover increased costs.