A flexible retirement, involving a gradual reduction of hours and stopping work at an acceptable age, is likely to be a mirage for millions of people based on current levels of saving.
Retirees can use £1,500 from their pension pots to pay for financial advice from April, it was announced this afternoon.
This year’s retirees will have the highest income since 2008.
Average income for retired households continued to rise following the economic downturn and has gone above the 2007/08 level – in contrast to non-retired households which have failed to get back to that same peak.
Retirees who entered drawdown in 2015 could face "a decade of lost income" if volatile market conditions continue as they have been, a pensions firm has warned.
A new study from LV= has uncovered that a third (32%) of retirees are now living on less than the minimum wage, an estimated 4.8m people.
Traditional inheritance may be dying out, with a rise in 'giving while living', research has suggested.
More than a fifth of retirees due to give up work this year have said they are not ready to do so entirely – continuing a growing trend stretching back to 2011.
The record low inflation rate announced this morning has been welcomed as good news for retirees.
Retirees will become "guinea pigs" threatened by the "real possibility of another mis-selling scandal" when the pension reforms come in next April, an MP has claimed.
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