The CBI has launched a major bid to tackle the pensions crisis with key proposals including better employer schemes, a higher state pension and an increased retirement age.

In a move to develop sustainable pensions provision the business group is launching a 22-point action plan aimed at companies, individuals and the government.

Ministers are warned that they must do more to tackle the "seriousness of the emerging pensions crisis".

"To help fund this the state pension age should gradually rise to 70 over the decade from 2020 to 2030," adds the report.

Chaired by Unilever UK chairman Richard Greenhalgh, the CBI group calls for employers and individuals to put more money in into pensions.