According to research published by retirement income specialist Primetime Retirement only 25% of over-55s said they would not support the appointment of a new Minister.

The research comes ahead of major legislation on the State Pension and long-term care and the launch of auto-enrolment for workplace pensions aimed at encouraging more people to save more for their retirement.

Marketing director Stuart Wilson said: “The over-55s realise that the old retirement of working to 60 or 65 and relying on a company pension has gone forever and that a new retirement reality is taking shape.

“Strong support for the appointment of a Retirement Minister shows there is a demand for innovation and leadership as the country grapples with the changing retirement issues.

“Of course appointing a Minister won’t solve all the issues but it would help focus the Government and other stakeholders on the need for more options in the retirement income debate.”