Pension contributions are not a priority for pension savers until they reach their 50s, Standard Life has found.

The latest research by the retirement savings firm examined how its customers’ financial priorities shift as they move through life, with each life stage characterised by their own issues.

Saving for a home is the top priority for those aged between 18 and 34, with the average age of a first-time buyer standing at 34.

For those aged between 35 and 39, Standard Life found that paying off debts is the number one priority, and stays in the top three priorities until the age of 54. Other more middle-aged considerations start to emerge too, with the cost of supporting children and family, as well as day-to-day living costs ranking highly for those aged between 35 and 50.

Standard Life found that it is only once savers hit the age of 50 that pension contributions move into the top three financial considerations.

Retirement savings director at Standard Life, Mike Ambery, said: "It’s not unusual for pensions to take a backseat to more immediate financial priorities until later in life. This isn’t necessarily a problem, as long as you’re keeping an eye on your pensions savings along the way and making conscious decisions about your retirement when necessary.

"Taking a look even once a year and checking whether your current pot and level of contributions are likely to provide you with your expected standard of living in retirement, is a good start. There are several online pension calculators that can help."

The firm said that following the introduction of auto-enrolment in 2012, many younger savers will have time to build up a level of retirement savings without pensions ranking highly on their list of financial priorities. However, the current minimum auto-enrolment contributions of 8% of salary - 5% employee, 3% employer - are unlikely to provide a "decent standard of living in retirement for most".

Ambery concluded: "In an ideal world, starting early and increasing contributions gradually in line with any pay rises or financial boosts like bonuses can make a huge difference to your eventual pot and resulting retirement income.

"However, it’s never too late to increase your contributions."

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