The scale of the pensions crisis has been underlined by conflicting advice about the solution to the pressing issue of retirement income.

As the Turner review into pensions continues to take evidence, both the CBI and the TUC released their submissions on Monday.

Business is warning that the UK cannot afford unions' call for a flat rate citizens' pension for all.

Party Response: Conservative

A spokesman for the Conservatives said: "After eight years of Labour, pensions are verging on collapse. Thousands of schemes are closing and millions of people forgotten by Mr Blair will retire without adequate pension plans. We agree with the CBI that the idea of a flat-rate citizen’s pension is not the answer to the pensions crisis. It would not address the root cause of the problems and it destroys the contributory principle, whereby people earn the right to a state pension.