Only one third (33%) of savers over the age of 55 who have taken financial advice feel ‘calm and in control’ of their finances, according to a new report.

The proportion of pensions being drawn down at 8% or over has hit its highest recorded level for pots of all sizes, according to analysis of the latest FCA data.

Standard Life and Fidelity have partnered to launch a new guaranteed pension income product aimed at tackling retirees' fear of running out of money in retirement.