CNBC says:

A colossal savings glut in China, the world's second largest economy, means
British workers in their twenties will only be able to retire at 75, a report by
the Center for Economic and Business Research (Cebr) showed on Thursday.

According to the report, excessive savings in emerging economies, especially
in China, and the country's growing share of the global economy will keep yields
and interest rates down for many years. This will leave pension funds
underfunded keeping annuity rates low.

Read more: http://www.cnbc.com/id/100503873