Staff under the age of 35 face the prospect of working until they are 76 because financial demands are threatening their retirement plans, according to research by the Skipton Building Society.

The report describes the Tiswas generation - brought up on the Saturday morning children’s show - but now stands for 'Thirty Somethings Without Any Savings'.

Under 35s will need to earn a staggering £320,000 a year if they are to retire at 63 on their present average salary of £27,700 or retire on just £271 per month says the study.

More than half of under-35s contribute nothing to a pension and a quarter of those who do contribute less than £50 of their salary a month or less.

Nearly 60% know they should save but say they cannot afford to do so while two-fifths admit to struggling financially.

Almost half have less than £1,000 saved and 22% have no savings at all.