A new survey shows men will be better off in retirement than women.

The study of more than 1,000 people on pensions shows men put away at least €4,000 a year, while women only manage to save €2,000 for their retirement.

The research was carried out by Standard Life. They say people need to be saving more in order to live comfortably when they give up work.

Standard Life said €4,000 per annum would not cover a relatively modest grocery bill of €100 per week or €5,200 per year.

It adds that the average Irish woman will be even worse off, being unable to afford a weekly grocery bill of €50.

The survey also found that 59% of adults do not own a private, company or work scheme pension, and just 41% have their own pension pot.

The average monthly amount saved into a pension is just €145. Aileen Power is head of corporate communications at Standard Life.