Pensions expert: You must have your own pension plan

"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."

Advertisement

'Significant cuts' for retirement

UK workers are having to make "significant cuts" to their living standards to prepare for retirement. With savings usually lasting around seven years, the average retirement is expected to carry out for 19 years.