One in three European workers would prefer their government not to raise the national retirement age, and would be happy with a lower income in their old age, according to research by Aon Consulting.

The firm's European Employee Benefits Benchmark highlighted that 29% of the 7,279 workers surveyed do not want their retirement age to be raised.

However, many nations are currently in the process of raising the minimum retirement age to help cope with the effects of ageing populations.

Oliver Rowlands, head of retirement, EMEA, at Aon Consulting, said: "The turbulent economic environment of the past few years has really forced people and governments to take stock, look at their and their nation's retirement plans and evaluate whether they will be ready for an ageing population."

He added that employers also have to make sure they are equipped to cope with an ageing workforce by introducing health and wellness measures and flexible working initiatives.

Recent research by MGM Advantage suggests that the average household needs £564,227 to cover the cost of the first 20 years of retirement.