Financial worries, and making debt repayments, are stopping people from saving enough for their retirement.

This is according to a YouGov study carried out for Financial Planning Week, commissioned by the Institute of Financial Planning and in association with National Savings & Investments.

With the introduction of NEST just around the corner, employers are going to struggle to keep employees enrolled. More than half (53 per cent) say their finances have got either a bit or a lot worse over the last six months.

According to the survey, fewer than one in five people (19pc) feel confident they're saving enough for retirement. 14pc have never contributed to a pension and almost a third (31pc) are not currently contributing to any kind of retirement savings vehicle.

It's imperative that employers, employees, financial planners and the government work together over the next few years and decades to ensure Brits save enough for old age. The economical damage set to be caused by generations of underprepared and financially dependent (on the State) pensioners will otherwise be catastrophic.