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Millions &#39losing sleep over money&#39

Nearly half the population have not saved or invested money regularly over the past six months, a Royal London survey has found.

The study of 963 people in April discovered that 44 per cent are not putting aside money regularly and 27 per cent choose to gamble their spare cash instead.

Women save £60 less than men on average each month.

The survey explored the findings of a recent Pension Policy Institute study which suggested that people will have to work until 72 to secure an adequate pension.

Fifty-four per cent of people in Royal London&#39s survey said they will be more likely to contribute to a pension or look at ways to save more money in light of this information.

Royal London says around 10.5 million people lose a night&#39s sleep every month over money worries.

But the study found there is £345m lying forgotten in sofas or drawers, plus a further £600m in piggy banks or whiskey bottles, amounting to around £40 per household.

Royal London Retail chief executive Chris Ide says: “We commissioned this report to get under the skin of people&#39s savings habits and how successfully they are making provision for the future. The results are worrying. We want to build awareness of the savings gap.”

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