The most popular choice of retirement age is 60 but men look forward to working for more years than women. The difference between the sexes was revealed in a recent Ark Life pensions survey.

Some 32 per cent of men chose 65 or over as the optimum retirement age, compared to 15 per cent of female respondents.

The Ark Life survey of pensions coverage selected a nationally representative sample of 1,200 adults, quota-controlled in terms of sex, age, social class, region and area of residence.

When asked how much of their present income respondents felt they would need in retirement to live comfortably, nearly half said 80 per cent of their present income. Only 2 per cent said they could live comfortably on a 40 per cent figure.

It is evident, however, that planning for pensions provision remains a challenge as more than half - 52 per cent - of those surveyed did not have a pension. Only 28 per cent realised that pension contributions qualify for full tax relief.

On the issue of who should take responsibility for pension provision, 51 per cent of respondents believed it should be a combination of the State and the individual. A significant minority, 32 per cent, felt the State should pay their full pension.

Only 34 per cent of those covered by occupational pension plans knew how well their pension fund was performing, compared to 60 per cent of self-employed respondents.