However, he said his officials were working closely with Treasury to implement a replacement scheme in 2011, but that the quarry industry would have to bear the pain of the EU decision in the intervening period.

BBC: Quarry industry

Defined contribution schemes, where the employee builds up a pension pot via investments, are the typical replacement for a company's final-salary scheme.

BBC: Pension provision still falling, says ONS

Mr Naisbitt added the scheme was in addition to and not a replacement for existing and more traditional educational tools.

BBC: Rotherham's Oakwood School to give all pupils iPods

What will replacement suckler cows cost us after having all ours slaughtered on the welfare scheme?

BBC: Farmer's Diary: What now?

The Labour government has made much of its pension changes: in particular the introduction of stakeholder pensions and the replacement of the earnings-related state second pension with a more expensive scheme aimed at poorer workers.

ECONOMIST: Pensions: What am I bid? | The