A third say that they are relying on their pension alone, with no other savings or investments.
Aegon surveyed over 2,000 people between the ages of 50 and 65 to gauge their attitudes towards retirement.
The survey reveals that 61 per cent expect to carry on working in some capacity after they reach retirement age or pursue further education or charity work.
Over one in 10 say love of the job makes them want to stay in the workforce and 14 per cent say they are too young to retire. Twelve per cent would like to try out a completely different career in their retirement.
Eighty-six per cent say they would at least “get by” financially if they were to stop working at retirement age and only 22 per cent say running out of money in retirement is a concern.
Head of pensions development Rachel Vahey says: “Retirement is not the abrupt cliff edge it once was and for many of today’s baby boomers, retirement age marks a new and exciting chapter of their lives. But if you want to make adventurous life cho- ices and have a more flex- ible approach to retirement, you have to know what income you are on track to receive and plan carefully.”