Almost a third of us have no retirement provision and nearly half of us have admitted that we don't save enough, according to a report.
AXA have called for the state pension age to be increased to 70 as an incentive to save more so that people did not have to work for longer. The report revealed that 40% more of us would save for retirement if this rule was changed. 25% of us hope to retire between the ages of 55 and 59, but we need to ensure that we have saved enough money to live on at reitrement age, in the meantime.
For more on pensions visit the Pensions Adviser.com
Why not see how much you should be paying in by using our range of calculators.