Nearly two thirds (63 per cent) of adults are worried about running out of money in retirement, as the latest data from the Office for National Statistics (ONS) revealed that people are living longer, research by LV= has shown.

The ONS data showed that a woman aged 66 can expect, on average, to live to around 90, while a man of the same age is expected to live to approximately 87.

The LV= research found that 62 per cent of UK adults were worried about having sufficient income to meet their regular living costs in retirement, while 19 per cent worried they may never retire at all.

The firm said advisers must plan for longer retirements, reinforcing the need to manage longevity risk, sequencing risk and long-term withdrawal sustainability, as the findings reflected a broader shift towards more structured, outcome-focused planning over standalone investment solutions.

In addition, the research revealed that over two thirds (67 per cent) of UK adults cited the potential cost of long-term care as a concern, which could prompt advisers to place greater emphasis on income resilience and long-term sustainability over short-term performance.

LV= savings and retirement sales director, Gwen Haggo, said: “The scale of concern around retirement income highlights why advisers are looking beyond short-term performance.

“A blended, on-platform approach can help manage longevity and sequencing risks more effectively, while giving clients confidence that their income strategy has been designed for the full retirement journey,” she added.

This can provide peace of mind for savers, supporting them to live financially confident lives both into and throughout later life, she said.

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