Only one in four working adults aged 50-plus believe that they are financially ready for retirement while a third have no retirement savings at all, according to an independent report commissioned by MetLife.

The report, entitled ’10 Years to Save Your Retirement’, highlights that only 26% of over-50s think they are heading for retirement in good financial shape, while 64% admit they either do not know or do not believe they will have enough money to fund a comfortable retirement including 32% with no savings.

MetLife warns the current generation of over-50s are the first to face a “toxic mix”” of volatile stock markets