"Significant cuts" are being made to the living standards of UK workers to prepare for their own retirement.
Research has found many people place too much reliance on the state to help them in later years.
Pensions expert, Dr Ros Altmann told Daybreak that it is vital people have their own pension plans.
She added: "It is so important to not have a fixed age where you think I won't do any work at all."
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Suddenly demanding £1.7 billion with a month to cough up is as good an opportunity to say 'Non, non, non!' as the PM could have wished for.
A slight slowdown in growth is pretty much as expected. There were signals from various surveys that the economy was slowing.