People could be forced to save more for their retirement, says new Work and Pensions Secretary David Blunkett.
Compulsory saving for private pensions is one way of addressing the shortfall highlighted by Adair Turner's interim report.
The former CBI chief is due to deliver his complete findings and recommendations later this year. Mr Blunkett made it clear all options were under consideration, but said he wanted cross-party consensus. "There are no offlimits here. We have got to be able to address quickly and decisively where we are going," he said.
"I want to build a consensus so I want, with Adair Turner, to be able to reach out to the other major political parties because we need a lasting solution for the decades ahead not a quick fix."
The initial Turner report found 12.1 million people, aged 25 or over, are failing to save enough to enjoy a comfortable retirement.
Mr Blunkett outlined what he called the "enormity" of the problem ahead. "Fifty years ago, we had a situation where people on the whole lived ten years after retirement. and retirement was, on average, at the age of 67," he said.
"Now we have a situation where people live on average 20 years longer. They want to retire earlier. The average age of retirement is below 65.
"But the number of people of working age sustaining those in retirement has dramatically fallen."
Foreign workers could play a role in meeting the shortfall, the Work and Pensions Secretary said.