Britons face a "rude awakening" when they reach retirement age, according to a new survey.
The survey from Aon Consulting found that 52 per cent of workers plan to retire before the current state retirement age of 65, with the average planned retirement age standing at 63.1 for men and 62.1 for women.
With only 14 per cent of the 1,204 respondents saying that government policy would influence when they aimed to retire, the results will be a blow to the government, which plans to raise the state pension age to 68 by 2046, the firm said.
Just 12 per cent said their employer's decision would influence their planned retirement date, while 51 per cent said it would be determined by their health and ability to do the job, and 35 per cent said they would be swayed by how much they had in their pension scheme.
Paul Macro, head of defined contribution at Aon Consulting, said: "The survey illustrates the rude awakening facing many people on retirement.
"While most would like to choose when they retire based on ability to do the job, few will have built up enough funds to allow them to retire comfortably at 65 and certainly not any younger.
"The expectation gap between desires and reality is shown by the quarter of people refusing to work beyond the official retirement age, even if they haven't got enough to retire on."