Britain's Prince Charles is worried his grandchild Prince George will have a "miserable future".
The 64-year-old royal voiced his concerns about the country's future during a speech in which he urged the pensions industry to commit to a longer-term investing approach to ensure the next generation are well equipped.
In a pre-recorded speech played at a National Association of Pension Funds' (NAPF) conference yesterday (17.10.13), Charles told investors: : "I can only urge you to deploy your considerable human ingenuity to make that innovative and imaginative leap that the world so badly needs.
"Otherwise your grandchildren and mine, for that matter will be consigned to an exceptionally miserable future."
He also claimed the pensions industry is an important part of the economy "now and in the future", and his comments were backed by several organisations.
A spokesperson for Saga, a company which focuses on those over 50s, said the Duke of Cornwall was "absolutely right" to air his views.
He added: "Whilst the heir to the throne may have a secure future, many of his potential subjects have something altogether less savoury in store for their retirement."
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