But that is only the start. As we highlight in this special report, many are worried about not having enough money to fall back on when they retire, and are concerned about what will happen when they get old.

The HSBC Future of Retirement report highlights that nearly half of people across the world have never saved for retirement.

Many expect their retirement to last 18 years but their savings to just last 10 years, according to HSBC. Longevity is all well and good, but somehow it has to be supported, and many are not putting enough to one side.

However, while many may be wondering how to stop the UK population from falling into penury, opportunities exist for advisers in other pension spheres, moving up the scale in terms of scheme and asset size.

There is a new defined benefit de-risking market, with the potential to reach £380bn. Savings can be made to defined benefit schemes of 10 per cent through the use of medical underwriting.

Similarly, Sipps have been a big success story, bringing much-needed flexibility into the market. There are opportunities here for financial advisers, too. Persuading clients to buy their commercial premises and put it into a Sipp, would mean they would be paying rent into a pension, rather than to a third party.

There are many tax benefits to this arrangement, including, in some cases, rent as an allowable business expense, lack of inheritance tax if the client dies, and also the compelling proposition of access to capital.

Melanie Tringham is features editor of Financial Adviser