Despite all the warnings there is no pensions crisis, a new report claims.
The think tank says rising productivity means there is no crisis
Think tank Tomorrow's Company says rises in productivity will enable the ageing population to sustain itself.
As each worker generates more wealth, they will be able to save more in pensions and pay more taxes to support the state pension, the report adds.
It also claims that saving more will not automatically be the best solution for any lack of pension because less spending would damage the economy.
The state pension would still need to be reformed by abandoning means testing and day-to-day lifestyles would not benefit as much from the rising productivity, the report says.
It also points out that the economy could be hurt if everyone started saving more instead of spending.
That would mean that extra savings would not grow by as much as people hoped, BBC correspondent Richard Scott said.
One of the report's authors Philip Sadler said there was no "ageing crisis".
"As a society we can afford to grow old," he said.
"Rising productivity will outweigh any negative influence on living standards from an ageing population."
Chancellor Gordon Brown has called for a "national debate" on the widely anticipated shortfall in pensions.
The government's Pension Commission issues a report in November designed to tackle the deficit.