Approximately half of UK workers are now saving adequately for their retirement, according to the results of a new financing study.
Research from financial services provider Scottish Widows has discovered that 49 per cent of employees are now putting away enough money into their old age pension, up from 46 per cent last year.
However, the data also indicates that 24 per cent of the population are currently failing to put any money into a pension scheme at the present time.
Ian Naismith, head of pensions market development at the financial services provider, has expressed concern at the finding.
"Despite pensions being front-page news for much of the past year, there is still some way to go before the nation is on track," he said.
Earlier this year, retirement planning hit the headlines again when the Pension Protection Fund announced that it had formally taken control of the MG Rover company pensions scheme.
The transfer of the pension to the public financial corporation meant that 6,228 former MG Rover employees were given guarantees that they would receive pension payments upon retirement.
Many workers were left with the prospect of losing their pension when the automaker went bankrupt in 2005.
Half of pension holders saving appropriately, financing research indicates
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