A charity is calling for the introduction of low cost collective pension schemes.
The RSA said consumers' pensions would be boosted by some 40 per cent if the schemes were introduced.
They would be similar to those currently in place in Holland and Denmark.
The RSA said lower cost schemes could be achieved through a combination of auto-enrolment, which reduces selling costs, while having a limited number of large suppliers would enable these firms to benefit from economies of scale.
It added that introducing collectively provided pensions would also further reduce the administration costs associated with having to report individual performances.
The report said if a Dutch person and a British person saved the same amount into their pension, the Dutch person could expect to receive a retirement income that was 50 per cent higher, because of the lower charges they paid.
The group said if minor changes were made to the UK's regulatory framework, enabling collective defined contribution schemes to be introduced, pension returns could be boosted by 39 per cent.
It said the introduction of Nest (National Employment Savings Trust) when auto-enrolment comes in, was a good start, but it said contributions to the scheme should not be restricted to £3,600 a year.
The RSA is calling for a Commission of Inquiry to be set up by the coalition Government to build a consensus on how to solve the UK's pensions crisis.
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