The next generation face being in their 50s before they have paid off their student loans and in their 60s before they are mortgage free, research has shown today.
The Scottish Widows study argued that rising life expectancies, combined with people being saddled with large debts earlier in life, mean that today's children should start saving for their retirement at the age of 25 if they want to enjoy a comfortable old age.
Economist Steve Lucas argued that financial pressures from university and housing costs will mean that the next generation will only be able to afford smaller pension contributions, meaning they need to start saving from around 25 years old to prepare for 30 years of retirement.
More top news
Quickly turning cold this evening with a widespread frost developing under clear skies, some fog patches too.
The Queen says she is "deeply touched" by the "selflessness" of medical staff fighting the Ebola outbreak in her annual Christmas speech.
Video of Norman the dog's Scrooge-like disdain of Christmas is becoming a festive hit online as he moans about his owners' singing.