Less than two-fifths (36%) of average retirement income before tax is provided by private and working pensions, according to a new report.

The increases in the cost of living due to inflation are hitting 50-59-year-olds the hardest, according to new research.

Almost nine in ten (86%) mass affluent pension savers expect the State Pension to be a vital part of their retirement income, according to a new report.

Only 39% of pension savers are on track for a moderate retirement income of £23,300 a year.