Britons start preparing for retirement at 28, earlier than any other major country and before they even buy a property, a report shows.

But the data from Axa shows that while Britons open pension funds before taking out mortgages, once on the property ladder, large number of Britons forget about retirement income and look to their home to provide for them in retirement.

"It's exciting to see people starting to take more responsibility for their own income in retirement," said Steve Folkard, head of pensions and savings policy at Axa.

The figures show one Briton in three expects property to provide their retirement income, but this might not be the safest option.

"Homeowners have limited options for generating earnings from the property they live in," said Mr Folkard. "Many people don't take into account how emotionally attached they can become to a family home.”

"By the time they retire, people are often loathed to move away from their friends and family or rob their children of their inheritance by handing over their home to an equity release company. This can scupper plans to take an income from the equity in their home."

The study, which surveyed 11,500 people in 11 countries, showed the average worker in the US started saving for old age at 30.

In Australasia and mainland Europe, the typical age rose to between 31 and 33, while in Japan workers on average waited until 36.

The Chinese have to hold on the longest before starting to plan for retirement, with an average age of 37.