Thousands of Scots face decades of poverty in retirement.
More than four out of ten questioned by Scottish Widows admitted they hadn't considered how they would survive when they gave up work. Almost as many optimistically said they would look to their children for financial support, while one in seven expected the state to cover their costs.
According to Aviva, 50 to 65 year olds underestimate the length of their retirement by up to eight years. Women put the average lifespan for a reasonably healthy person at 84 years, while men say it is 80, but they could well live to 89 and 88 respectively.
A survey by HSBC found that despite almost six out of ten UK workers worrying they won't have enough to retire on, the economic downturn has prompted more than four out of ten to cut their pension savings or stop altogether. Just over half of those taking part in the HSBC survey said they simply couldn't afford to save enough and a third said paying off debts was preventing them.
According to Prudential, a fifth of those planning to retire this year still have debts averaging just under £22,000, which will further diminish their standard of living.
No one should expect to live well on a state pension alone, the amount people get will still be meagre. Even with a complete NI record - which has been set at 35 years - the maximum individual pension is expected to be around £150 a week, or £7,800 a year.