http://www.bbc.co.uk/news/business-11136463


Yes and substantially more. So much so that they will suffer a significant drop in current living standards.


This will make the situation even worse. Companies will dump their liabilities on the tax payer and destroy the state pension. It will be unaffordable for governments to pay. So expect retirement to become the preserve of the rich. Everyone else will have to work till they die. To provide for a long retirement you need a substantial sum in excess of lifetime earnings to provide an income that will be able allow people to retire. With low interest rates you need substantially more to provide the same income.