Nine out of 10 of the UK’s high net worth individuals (HNWIs) have postponed major decisions such as retiring because of the cost-of-living crisis, according to data compiled by the Saltus Wealth Index Report.

The National Audit Office has warned that a rise in supplier costs and the delivery timetable being extended by two years have increased the government’s Pensions Dashboards programme’s estimated cost by 23%.

More than 1m mortgages taken out in the past three years extend beyond the borrower’s state pension age, prompting fears that young home buyers are gambling with their retirement income.