According to research from fund management group, Fidelity International, many Britons hoping for a comfortable income at retirement could find themselves working until they are almost 80 years of age.

Workers relying on company pensions, linked to stock market growth, also known as defined contribution plans, need to significantly top up their pension, with an additional 8 per cent of their salary each year, if they wish to retire at the standard age of 65, according to Fidelity.

It is acknowledged by industry commentators that a comfortable income in retirement equates to two thirds of your previous final salary during employment. But while many retirees do get by on much less, they can be significantly worse placed to cope with rising costs, such as fuel bills or long term care.