A report by the Pensions Commission warned that the number who were failing to save enough for their retirement was higher than 12 million, and said that Britain had been living in a fool's paradise for 25 years.
disapproval If you say that someone is living in a fool's paradise, you are criticizing them because they are not aware that their present happy situation is likely to change and get worse. living in a fool's paradise of false prosperity. A state of delusive contentment or false hope