The Financial Services Authority and Bristol University have that found that 42 per cent of adults have no pensions savings and that Britain's under-40s are unlikely to save. In his reaction, TUC General Secretary, Brendan Barber, said: "A whole generation is growing up with little or no pension. Without radical action they will face poverty in retirement. The Turner Report on the future of pensions suggests modest compulsion on employers and a more woman-friendly state retirement pension that keeps up with rising living standards.

Save now or 'retirement reality will bite hard' TUC warns young people. The TUC has launched a pensions advice leaflet to help young people understand their pensions choices.

Only just over a quarter of working men (26 per cent) and a third of working women (33 per cent) between 18 - 24 have a pension.

The new TUC leaflet explains the different kind of pensions available and says that to afford a decent retirement most people need to be paying at least 11 per cent of their earnings into a pension if they start saving at 25 but this rises to 14 per cent if they put off saving until they are 30 and 18 per cent if they delay until they are 35.

TUC Deputy General Secretary Frances O'Grady told the TUC Young Members' Conference:
"Young people struggling with debts and housing costs are faced with tough choices. Many are putting off saving or think they will be able to get by without their own pension. If pensions' saving is left too long, reality will bite hard for young people when they hit retirement.

South West TUC E-Newsletter, April 2006