RECORD money: Auto response to pension crisis.
A study by the Association of British Insurers found that 50 per cent of people of working age were not paying enough into a pension, including a third of the workforce who are saving nothing at all.
The association has called on the Government to bring forward plans for workers to be automatically enrolled into workplace schemes - from 2012 to now.
They added that if auto-enrolment was brought in before 2010, it could lead to long-term savings of more than pounds 500million by 2012.
The group added that 62 per cent of workers said they supported auto-enrolment if it was into a good scheme into which their employer made contributions.
ABI director general Stephen Haddrill said: "Our problems arise from a decade of policies promoting debt and credit. It is time for that to be reversed.
"It was disappointing that the Government didn't use the Pre-Budget Report to give pension saving a boost by bringing forward plans for automatic enrolment. But it's not too late, and we'll continue to urge the Government to take this action."