Eight in ten (83%) of UK adults would support a government review to see whether the current pension system is delivering adequate retirement income, according to a new report.

The majority of those surveyed by Phoenix Group believed it is the government’s responsibility to ensure people achieve an adequate income in retirement.

Seven in ten (71%) of the over 3,000 UK adults surveyed agreed that the government needs to set out a plan to increase the minimum auto-enrolment pension contribution rate.

When asked what an ‘adequate’ income in retirement is, the top response from UK adults was an income level where ‘basic needs are covered with some money left over for non-essentials’.

Over a quarter (27%) of non-retirees said the minimum auto-enrolment contribution rate is too low. Of this group, half (51%) thought the minimum contribution should increase to at least 12% and a fifth (20%) thought it should increase to at least 15%.

Gail Izat, Mmnaging director for workplace pensions at Standard Life (part of Phoenix Group), said more needs to be done to help people secure a decent standard of living in retirement, and raising minimum contributions is “the single most powerful mechanism” available.

She said: “While it’s important that we move when the time’s right for both savers and employers, prolonged inaction risks continued under-saving and the UK sleepwalking into a retirement savings crisis.

“It’s clear that people support action on raising minimum contributions if the current rate isn’t adequate, and we urge the next government to put a review in place.”

Phoenix Group surveyed 3,014 UK adults in February.