Over half of those asked (51 per cent) were paying into an occupational scheme, while 30 per cent admitted they were planning on using a personal pension and 21 per cent said they would opt for ISA savings products.

One in four people (22 per cent) did however confess that they were not saving for the future, with those aged between 16 and 24 being the worst offenders, standing at 44 per cent.

B&CE; Insurance, which supplies stakeholder pension schemes to the UK’s construction industry, commissioned the research, hoping to examine the average worker’s attitude towards retirement planning.

The deputy chief executive of B&CE; benefit schemes, John Jory says: “The fact that the majority has kept faith in occupational pensions is encouraging and underlines the need for a ‘workplace partnership’, where employers and employees work together to meet the pensions needs of workers.”

B&CE; want to see the Government simplify pension legislation and look at ways to encourage low to middle income earners to take out pensions.

There’s also only a few weeks remaining before the Government makes its decision on whether or not to increase the cap on charges for stakeholder pensions, and Mr Jory believes “it is crucial that we do not lose sight of the people who have yet to start saving”.

He added: “We hope that the Government take this kind of evidence on board when making their decisions on the future of the pensions system in the UK.