Almost one in five (17%) of Britons only have the State Pension to rely on for income in retirement, according to a new report.

There are now nearly 612,000 people aged 90 or over living in the UK, with the number heading upwards, according to analysis of official figures from retirement specialist Just Group.

Only 60% of professional investors are prepared financially for longer life cycles, with a high proportion, 40%, highlighting a lack of preparedness.

Savers continue to face unnecessary delays when transferring their pensions, with the latest data revealing that some transfers take more than two months to complete.

From 6 April, the state pension will increase by 4.1%, as calculated by the ‘triple lock’, and so above the latest inflation figure of 2.8%.

Industry collaboration fintech Origo’s newly-launched Unipass Transfer Tracking service has seen more than 10,000 pension transfers searched for by advisers since it went live on Monday 3 March.