LV=, Britain’s largest friendly society, have published a report that shows nearly two million over-50s have been forced to delay retirement due to the economic crisis. Most are understandably depressed or just plain angry about their situation. Many more say they face the prospect of having a lower income in later life than they were expecting.

If you are approaching retirement and are concerned about your financial position, being more aware of the options available to improve your situation may help. Ray Chinn, LV= head of pensions, was joined by Anna Sofat, an expert independent financial adviser from Addidi, to tackle retirement issues, explain how the rules work as well as what your pension options could be.