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A consequence of the recession has been that the value of employees' defined contribution pensions have fallen by nearly 1/3 since October 2007 (from £552 billion to £395 billion, representing a loss of £46,417 for each of the 3.4million members who pay into such schemes.
Aon Consulting October 2008

Another consequence of the recession on pension fund investments has been that 64% of the UK's largest final salary pension schemes are in deficit. The scale of this deficit reached £15billion at the end of October 2008, reflecting a fall in the value of funds of £9 billion.
Aon Consulting November 2008

A combination of longer life expectancies, poor stock market returns and a failure to build up funds during the good times has left companies in the FTSE 350 index nursing a combined pension fund deficit of £182bn.
The Guardian May 2009

Raising the retirement age to 70 would have a huge impact - a five-year delay can boost a person's retirement income by 30%.
Hymans Robertson 2009