The challenging economic environment is leading to profound changes in client retirement decisions, according to a new adviser survey.

The UK’s high earners are facing a retirement shock with less than a third on track for a financially comfortable lifestyle when they retire, according to new research.

The World Economic Foundation has projected that average retirement ages in OECD countries, including the UK, will need to increase by an estimated 8.4 years by 2050 to maintain the current balance between working-age and non-working-age populations.

Retirement resilience has dipped and is expected to fall further during 2024 as house prices continue to fall and asset values fail to rise in line with inflation.