Young adults in their twenties have little faith of being able to rely on state pension provision by the time they reach retirement, research from Royal London has suggested.

The survey found that 56 per cent of young adults believe that they will have to wait until they reach at least 70 years of age before they can receive a state pension, while 50 per cent expect the benefit to be less generous, in real terms, than it is today.

In addition to this, 30 per cent of those questioned by Royal London said that they do not expect a state pension to even exist by the time they stop working.

The research also discovered a lack of awareness as to how the state pension is calculated, with three-quarters of respondents admitting that they were unaware receiving the full state pension currently requires 35 years of national insurance contributions or credits.

At the same time, 37 per cent of those surveyed think that the criteria for state pension eligibility will change by the time they retire.

Royal London said that the scepticism found among younger workers is not surprising, since successive recent governments have all changed the official retirement age over the past 12 years.

“For workers in their twenties, retirement is likely to be one of the last things on their mind with more pressing financial priorities like the cost-of-living crisis and paying bills, saving for a house or even a car, occupying their thoughts," said Royal London pensions expert Clare Moffat.

“But concerns about when and how much state pension will be available might lead to an expectation that they’ll need to self-fund a greater portion of their retirement. Future financial security is likely to mean working for longer than previous generations and also saving more.

The current state retirement provision level is at around £9,600 a year, leading Royal London to warn that those relying on the state pension on its own for their retirement income will only be able to afford essential needs.

The figure also falls short of the recommended "minimum level" of income required for retirees (£10,900 a year) published by the Pensions and Lifetime Savings Association (PLSA). The PLSA's "moderate lifestyle" retirement income level is currently set at £20,800.

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