20% of over-55s have no pension arrangements

ONE in five people over 55 have made no preparations for their retirement, according to pension experts Mercer.

Fewer than half are confident they will have an adequate income in retirement, while a third do not expect to receive the state pension.

Two out of five said they would like to continue to work part-time after retirement, and one in five of those participating in a pension scheme does not know how it works.