"Although retirement is high up on Britons' lists, it's still much less of a thought than it is around the world," she added.
The National Institute of Social and Economic Research (NIESR) said the UK economy was well and truly "entrenched" on Friday, predicting 2.5 percent growth this year and 2.1 percent in 2015 as joblessness has fallen and house prices are on the up.
However, the think tank warned that consumer spending would remain the key driver of the recovery in 2014 and 2015.
British consumers collectively have nearly £139 billion in unsecured debts, with 63 percent admitting they have some form of unsecured borrowing, according to a recent report from price comparison website MoneySuperMarket.
(Read more: UK economy goes from 'zero to hero' but don't expect giveaway)
Chief economist at Henderson Global Investors, Simon Ward said the UK's low saving rate and reliance on spending was a "very serious long term problem" as it goes hand in hand with the country's low investment rate.
"The UK's poor productivity performance is weak partly because of low savings and investment," he said.
"When you have a burst of growth, like what we are experiencing at the moment, capacity is constrained because firms are still very reluctant to invest, which leads to more frequent economic cycles," he said.
(Read more: Goldman: These are UK's two long-term weaknesses)
Britons who are saving or investing are mainly doing so to cover household emergencies, with 38 percent putting money away for home improvements. Saving for personal luxuries, such as cars or holidays, also topped consumers' list of saving priorities with 27 percent saving.
Making sure there's enough money to put their children through higher education, however, is not as important to Britons, with just 10 percent of consumers investing in their children's future, compared to 28 percent of global consumers.
—By CNBC's Jenny Cosgrave: Follow her on Twitter