A PENSIONS bombshell is heading Britain's way and today's workers need to save more to avoid being trapped in poverty when they end their working lives in 15 or 20 years' time.
That's the message from the government on the eve of a Pensions Commission report this week into the extent of the problem facing the country.
It is feared between eight million and 13 million people are not saving enough for their old age.
But a Bournemouth pensions campaigner believes the obvious solution is for the government to improve state pensions.
Tony Fowle, co-founder of the Olde English Action Group, said: "The whole crux of the matter is that the government must upgrade the basic state pensions for this generation and future generations."
He said tax payers would not defraud themselves or go bust - as has happened with many private pension schemes, resulting in people becoming reluctant to enter pension schemes.
Pensions secretary Alan Johnson is calling on workers to sign up for pension schemes, save more for their retirement, and for companies to do more to encourage staff to join schemes.
Labour's South Dorset MP Jim Knight believes the setting up of a pension protection fund would restore public confidence.
Mr Knight added: "My biggest regret in this whole debate is that the last government broke the link between earnings and pensions."
See top business news
First published: Oct 11
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article