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About 20.5 million people may be planning to rely exclusively on a state pension to help fund their retirement, fresh estimates have suggested.

Nearly a third of people in their 40s have no plans at all to fund their retirement and one in ten say they will 'work until they drop'.
Younger women are misjudging the pot they will need to fund their desired income in retirement by more than £400,000.
Nearly a quarter of over 55s would trust professional financial advisers to provide the retirement planning service pledged in the Government's guidance guarantee, a survey suggests.
Financial Planning and forecasting specialist eValue has launched a "Better Outcomes for All" campaign to encourage the pensions and investment sectors to better serve the investing public.
A study into the bulk annuity market has shown there were fewer big hitters in the UK last year but researchers predict more firms will enter.
A retirement planning study has found that more than eight out of 10 people underestimated how long they were likely to live after giving up work.
People set to retire this year will be spending £3,000 per year on average helping family members who are struggling financially.
Retirement planning advisers have told how regulation is their overriding fear in the wake of RDR.
A wealth management firm based in London has announced it is opening its first office in Wales.
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