The majority (71%) agree they may not have put enough aside because they don't want to make the wrong decision about saving for retirement, whereas nearly half (47%) agree it's because they don't know enough about what would be their best option.
Those surveyed admit if they had extra cash available they would be more likely to spend it on holidays (40%), home improvements (20%) and socialising (20%) than put it away for their retirement (12%).
Just 1% of private sector employees who will be automatically enrolled into a pension scheme at work consider a pension essential spend.
The NEST research surveyed a representative sample of 1,847 jobholders not currently in a qualifying scheme.
On the back of the research, NEST, launched a national campaign called 'Tomorrow is worth saving for'. Via social media, it asks consumers, 'what do you do now that you will still want to do when you're older? Going to the cinema, socialising with friends, going to the football?' and asks consumers to join a conversation to tell NEST what they think makes tomorrow worth saving for.
NEST has developed ideas for potential adverts to highlight automatic enrolment and the role of NEST, and wants consumers to comment on these and give their own ideas.
The campaign is aimed at raising awareness of NEST and automatic enrolment. NEST wants to help consumers to put pensions in the context of their lives today and think about what difference a pension could make to their later lives.
Tim Jones, CEO of NEST, said: "Too many people are putting off setting money aside for their later lives because they don't know what to do or don't want to think about retirement. Our findings show we must use this opportunity to build up their confidence.
"Our campaign aims to help consumers put pensions into the context of the lives they live today and kick-start a national conversation about what makes 'tomorrow worth saving for' in their lives.
"Automatic enrolment is the first step towards a long overdue pension revolution and NEST will play a key role in helping millions more to save for retirement.'
Automatic enrolment will make pension saving easier for millions of people from October and boost their pension pots due to contributions by employers and the government.
NEST research also shows that when told about the reforms, two thirds (63%) agree that automatic enrolment is a good idea and just 16% of people say they would definitely opt out. The vast majority (78%) say knowing they have something put aside and growing ready for their retirement would make them stay opted-in, while more than two thirds (67%) say it would be the relief that they could stop worrying they'd done nothing to prepare.
