According to the new study, almost every eighth Briton who retired this year did not secure retirement.
A study published by investment company Prudential last week showed that 12% of people who are going to become pensioners do not have private or industrial pensions at all. A total of 10% will fully or partially rely only on the state pension, while 2% have private savings.
This means that these workers after retirement will have an income that is £1,450 less than the established annual minimum for a retiree in the UK.
"Although a state pension is an important part of retirement income, it should not be the only source of finance, and those who are still working should understand this and invest in their future. It is never too early to start saving money for retirement, and even a small amount each month can seriously affect the situation," - said Stan Russell, a financial expert.
The study also found that women pay much more attention to their pensions and accumulate money on it more diligently. Interestingly, in 2016, 22% of women had no pension savings compared to 7% of men. A decade ago, about a third of female workers planned to retire without saving.