A new survey suggests that Britons only begin to realise they will one day retire when they reach the age of 48.
The survey for NFU Mutual says 48 is also the age when people finally realise how much they need to save for retirement.
It says one in in four Britons hitting the 'retirement reality' age have no savings for retirement.
The pensions and investment provider says the survey shows people are facing a stark day of 'retirement reality' and only then do they truly appreciate what savings they need for retirement and when they will realistically be able to stop work.
The result of this late planning is that those approaching retirement age are pushing back their retirement plans by an average of four years as they re-evaluate what is realistic.
NFU says the realisation has more dramatic consequences for some with one in 10 of those still working past the age of 55 saying they now do not ever expect to be able to retire.
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Nearly two thirds (64%) of young people (aged 18-24) having no pension or savings for later life and one in four (26%) people around the identified 'retirement reality' age of 48 in the same situation.
Steve Meredith, pension and retirement specialist at NFU Mutual, said: "People might read these findings and worry – or worse still, bury their head in the sand about their own retirement planning.
"Whether you're 18, 48 or 68 it's absolutely never too early or too late to start making plans for later life. Any provision, no matter when made will give you a better range of choices.
The research was conducted by ICM research between 16 and 18 October 2013. Responses were obtained from 2,001 UK adults.
The average age given, taken from a base of those who said they have already hit a 'retirement reality' age, was 48.
The average expected retirement age of 55 – 64 year olds is 65. Respondents were then asked to think back to their expected retirement age ten years ago, with the average age given as 61.