Yet more gloomy news for the nation's savers...
Fifth 'saving nothing' for retirement
A fifth of workers are failing to save anything for retirement, Scottish Widows research suggests.
The report also found those aged between 30 and 50 are falling behind older people in saving for retirement.
Some 59% of those aged over 50 are preparing financially for their retirement compared with 47% of those aged 30 to 50.
The survey also found 49% of those surveyed were not making adequate provision for their retirement - defined as saving at least 12% of earnings a year. MORE...
Revealed: Advisers' favourite pension reform 2011
The abolition of the Age 75 rule has been voted the best pension reform this year by advisers.
A poll conducted by Dunstand Thomas suggested almost 40% of advisers believed this reform would benefit clients the most.
This was followed by 30% who said auto-enrolment would offer the greates benefit customers. MORE...
Reeves: Pension Bill must be finished by summer
Shadow pensions minister Rachel Reeves has urged the government to move forward with the Pensions Bill before the summer recess.
The Labour MP for Leeds West said the Pensions Bill, which contains a controversial clause increasing the women's state pension age to 66 by 2020 has been subject to a "massive delay".
The bill had its first Commons reading five weeks ago on 27 April.
"It must be finished before the summer recess or we will have to start again in the autumn," Reeves said. MORE...
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till