Guernsey and Alderney residents will be automatically enrolled into a new pension scheme, under plans being drawn up.
The Guernsey social security department is looking for a provider for its secondary pensions scheme, which will encourage the population to save more towards their retirement.
It is estimated that 60 per cent of the working age population, around 25,000 people, are not making any personal pension provision and are relying solely on the state pension.