Workers in Oxford face the prospect of staying in employment until 78, according to a new report.

The investigation by pension company Royal London found an average earner who starts saving at 22 and makes the minimum statutory contributions would need to work until 78 to get the level of pension enjoyed by many of their parents.

They would face working to 72 to get even a 'silver standard' pension of about half their pre-retirement income.

The report found in some areas, such as Burnley in Lancashire, people would be able to achieve a 'gold standard' pension by the age of 74 but in other areas such as Camden in London they might have to wait until they are 80.

Former pensions minister Steve Webb, who is now director of policy at Royal London, said: "The best antidote to having to work well beyond normal retirement ages is to start saving early and to increase pension saving.

"A good tip is to review your pension saving when you get a pay rise as you are less likely to miss money you have never had.

"Increasing your contributions when your pay goes up is the best way to avoid having to work until you drop."

Have you been affected by pension changes? Are you worried you won't be able to afford to retire? Let us know by commenting below or email news@oxfordmail.co.uk