88% of Independent financial advisers predict that the age of retirement will rise within the next 10 years , while 71% say people are already resigned to a significant reduction in their standard of living in retirement.

Increased life expectancy and mismanaged/ plundered pension funds have made this a necessity at some point.

This makes planning for retirement and allocating funds for later life an even more confusing situation as current investors can not make accurate predictions as to the likely value of their investment.

Currently, the State Pension age is 65 for men and 60 for women. However, the State Pension age for women is changing and is due to increase from 60 to 65 between 2010 and 2020.