Clients are increasingly worried about the prospect of maintaining their desired standard of living in retirement, according to Teesside Financial Planning firm Active Chartered Financial Planners.

The firm’s managing director Karl Pemberton has urged the Chancellor to address their concerns in next month’s Autumn Statement.

He has written to Jeremy Hunt after a survey of more than 1,000 of the firm’s clients revealed that 42% of them feel less confident about their financial future now compared to the same time last year, with just 7.5% feeling more confident.

Three in five clients who responded said they considered income security in retirement to be their greatest financial concern.

Mr Pemberton has urged the Chancellor to explore measures that enhance pensioners' financial stability in their retirement years.

He said Mr Hunt should consider options to encourage pension savings and provide incentives to safeguard retirement income.

In his letter, Mr Pemberton also expressed the desire of clients for an increase in personal tax allowances.

He said a higher personal allowance would not only put more money back into the pockets of all consumers but also stimulate economic growth by encouraging consumer spending.

Mr Pemberton said: “The forthcoming Autumn Statement is an opportunity to address the pressing concerns of our clients, who represent a range of political viewpoints, which are undoubtedly indicative of wider sentiment.”

• The survey of 1,085 of the north east Financial Planning firm’s clients generated 120 detailed comments.