Pensioners will be worse off as time goes by

People who reach retirement age in 2050 may get less cash

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Ministers are to resurrect the Pensions Commission amid fears that today's workers face a greater risk of poverty in retirement than their parents.

Experts have warned that people looking to retire in 2050 are on course to receive £800 per year less than current pensioners.

The Department for Work and Pensions (DWP) said 45 per cent of working-age adults were putting nothing into their pensions.

Work and Pensions Secretary Liz Kendall said she was turning to the Pensions Commission, which last met in 2006, to “tackle the barriers that stop too many saving in the first place”.