During 2003-04 the state pension accounted for 51p of every pound a pensioner received, but by next year this is set to fall to just 46.9p, according to research carried out by Datamonitor, the market analysts, for Prudential, the financial services group. The report predicts that, based on current trends, the state could be providing just 44 per cent of people's pension by 2013-14.

People will, instead, become increasingly reliant on private provision to support them during retirement, such as personal and occupational pensions, savings and investments and unlocking money from their homes.

The shift is a far cry from 1908 when the Old Age Pension Act was set up by Lloyd George's Liberal Government to provide the majority of retirement income for people over 70 on low incomes.

Even in 1979 state benefits still accounted for nearly two-thirds of the average pensioner's income.

That is from the Daily Telegraph coverage.

It is quite a change. State pensions provided nearly two-thirds of pensioners' incomes in 1979 and are now expected to be down to 44 per cent by 2013-14.

It is a shame that people have been misled by politicians - notably Gordon Brown - about what pensions they could expect.

A decent government would tell people frankly "the state will not provide - get saving". But that would amount to politicians not promising to give money away. So don't hold your breath.