Two thirds `fail to plan ahead` for retirement

Despite fearing that they won`t be able to cope in retirement, two thirds of people around the world fail to plan for their `golden years`, new research from HSBC indicates.

The Future of Retirement: The power of planning report discovered that one in five working-age people in the world don`t actually know what their main source of income will be when they`ve retired.

When asked how they plan to fund their years after work, just under one fifth (19%) said they `don`t know`.

A spokesperson for Gregory Pennington commented: "It`s worrying to see so many people failing to plan for retirement.

"Preparing adequately in advance can make all the difference between a comfortable retirement and a financially difficult one - and savings can provide people with a great deal of protection against debt both before and after they`ve stopped working.

"On that note, we would advise people to think carefully about how they plan to fund their `golden years`. Anyone worried about their finances should speak to a professional adviser as soon as possible."