Only 35% of pension savers are confident about making retirement decisions, a new report suggests.

Four out of five people aged 55 or over are charting their own path to retirement and turning their backs on guidance and advice, according to new research.

Almost half of older workers are unaware that their pension has a choice of investment funds to choose from or even what their pension fund is invested in.

The latest XPS Pension Transfer Watch report has highlighted that pension transfer volumes were 50% lower in March than a year earlier.