A quarter (25%) of over-50s wish they had taken their pensions 'more seriously' at a younger age, according to a new survey.

One in five (22%) over-50s said they would have invested more into their pensions if given another chance when asked what financial tips they would share with their younger selves.

A similar number (18%) wished they had planned their finances and budgeted better for retirement, while 16% would have created a more comprehensive retirement plan at a younger age, according to the Aviva survey.

Alistair McQueen, head of savings and retirement at Aviva, said the research highlighted how important planning early for retirement can be.

He said: “With so many financial decisions to make in your twenties and thirties, and retirement feeling far off, it can be tough to know where to prioritise spending, particularly if you are on a tight budget.

“Hearing what the over-50s would advise their younger selves to do can give some helpful hints based on their greater financial experience. Most emphasise the importance of planning and saving for the future as early as possible.”

The top tips over-50s would give to their younger selves would be to clear debts (54%), save into an emergency fund (53%), and pay into a pension as soon as possible (52%).

Two in five (41%) would advise against spending excessively on weddings, with women (50%) more likely than men (33%) to suggest cutting wedding costs.

One in six of those surveyed, who are fully or semi-retired, revealed that they had carried credit card debt (16%) or mortgage debt (7%) into retirement.

• Censuswide surveyed 1,007 Britons over the age of 50 in September on behalf of Aviva.