IT is a bit much to be lectured on pensions by a member of the financial services industry ("Should public sector workers retire at 60?", November 29). That industry is a large part of the problem.
One of the reasons that people will not save enough for their pensions is that they have no confidence that they will get independent advice. They know that they will be sold the pension that pays the biggest commission to the seller rather than the one that is best for them.
Many final-salary schemes in the private sector are closing to new members (just as the civil service scheme is proposing) because they are in deficit because they were so badly managed by the financial services industry, during the dot-com boom, and not because of longer life expectancy.
From his article it is clear that Gerry Gray will be working well past 60 and would not consider being a member of a scheme which allows retirement at 60.
B Emmerson,
Charles Street,
Updated: 09:23 Thursday, December 01, 2005
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