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.
According to research from HSBC, UK workers are the worst-prepared, facing 12 years of living standard cuts.
Research also found that people are placing too much reliance on the state to help them in their later years.
More top news
A number of Britons are feared stranded on Mount Everest after the Nepal earthquake triggered a deadly avalanche on Saturday.
Prime Minister defends royals' decision to give birth in a private hospital - instead of going with the NHS
Tech giants Facebook and Google both have simple, powerful tools to help friends and family keep track of loved ones