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