• According to Retirement Expert UK, around half of all U.K. adults between 20 and 60 years of age have not saved for a pension.grand p?¡§re image by Emmanuel MARZIN from Fotolia.com
  
  

Rely on the State

• A single person who relies on the basic state pension alone will receive 97 pounds and 65 pence (about $153) a week at 2010--11 figures. This will likely be a low amount to cover all bills and living expenses. Government Minister Steve Webb admitted that the state pension was "not enough to live on" as of 2010.
  
  

Save Regularly

• To enjoy a higher standard of living, employees can build up a pension fund by paying into an occupational pension or, alternatively, by putting money into a personal pension plan. The investment performance of the plan will determine the final pension pot.
  
  

Bottom Line

• According to Retirement Expert UK, it's a good idea for a person to save 15 percent or more of his annual salary for retirement from the age of 25. If a 40-year old starts saving for retirement, then he should allocate between 17 percent and 24 percent of his annual salary.