Fewer than one in three people contribute to a pension scheme despite warnings the nation needs to save £27 billion a year more towards retirement.
Only 30 per cent of people were paying money into pensions, compared with 32 per cent this time last year, according to Alliance and Leicester.
Women were also less likely to have a pension than men, with one in four making provision for their retirement, compared with 35 per cent of men.
The research found people were continuing to shy away from saving money through the stock market, with only 13 per cent owning shares.
Only eight per cent had a stocks and shares individual savings account (ISA), while 17 per cent held their savings in a cash ISA.
Among people with more than £7,000 in savings, 47 per cent had a cash ISA and 26 per cent a stocks and shares one.
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