When asked how they plan to use their savings, nearly two thirds (64%) of retired people said they will use the cash to go on more holidays - making this the most popular choice - Skipton Building Society found.
Just over two fifths (42%) of retired people also plan to go on the trip of a lifetime, while 44% want to take up a new hobby.
But the survey also found that many retired people were also expecting to need to use some of their cash to pay for their later life care.
A strong desire to help out the younger generations financially was also found.
Many people surveyed were planning to help their family out financially, with 45% saying they would use their savings to help their children or grandchildren.
Nearly two fifths (39%) of retired people plan to put some of their cash towards their children or grandchildren's education and more than a third (36%) wanted to build up an inheritance pot to pass on.
Nearly half (48%) also expect to put their savings pots towards their own care, while 44% will continue to build up a "rainy day" savings pot to cover unexpected bills.
And 42% of retired people surveyed still have debts that they want to pay off with their savings.
The pension freedoms launched in 2015 give over-55s a wider range of options over how to use their retirement cash, rather than being required to buy an annuity retirement income.
Skipton Building Society also surveyed people who have not yet retired - and found more than a third (35%) plan to save less when they eventually do retire.
Jacqui Bateson, senior propositions manager at Skipton Building Society, said: "When looking at the attitudes towards saving for retirement, there's a clear trend towards seizing the day over saving for a rainy day."
More than 6,000 people took part in the survey, including more than 1,000 people who have retired.
Here are the most popular plans retired people have for their savings, according to Skipton Building Society, with the percentage of people who chose this option:
- Go on more holidays, 64%
- Pay for their own care, 48%
- Help their children or grandchildren financially, 45%
- Take up a new hobby, 44%
- Save for a rainy day, 44%