Pension planning on the back burner

AT LEAST one in four Britons between 35 and 50 has yet to kick-start any kind of pension savings, new research suggests.

A third of those who have not set up any kind of pension savings said they had not got around to it, while a quarter said they hadn't made any provision because their employer didn't offer a scheme, according to a survey by discount website MyVouchercodes.co.uk. Another 17 per cent said they would rely on the state pension for their retirement income, while one in ten said they thought it was "too early to think about it".

Mark Pearson, chairman of MyVoucherCodes.co.uk, said: "It's all well and good relying on state pension, but it may not be enough to support your lifestyle."