A quarter of retirees don’t have enough money to do the things they would like, according to a survey by the Financial Markets Authority and the Commission for Financial Capability.

The survey of 1052 people aged 50 and over found 25 percent of those who had already retired were just getting by and managing the basics while 28 percent had enough money to do all the things they wanted.

Among those approaching retirement, 54 percent said they had some sort of financial plan but the degree of planning varied. Just 11 percent were confident they would have enough money for the lifestyle they wanted.

According to the commission’s David Boyle, the research showed many were leaving plans to the last minute. “There’s a big gap between the reality of lifestyle in retirement and the expectations of the over 50s age group,” he said.