`There are better ways of saving'

Kevin Shaw, left, a lighting designer based in Edinburgh, is single and in his early forties. He is working on a number of projects, including Expo '98 in Lisbon.

"I don't believe in pensions. Remember the pressure put on us in the early Eighties to get on the pension bandwagon? I didn't buy it at a number of levels. First, I saw no reason to pay obnoxious and ignorant salesmen huge commissions.

"Second, I didn't believe the inflated projections of huge future returns which were used to sell these plans. Third, these plans tie money up and lack the kind of flexibility that I want. Fourth, I'm not planning on retiring as such. Fifth, there's a political problem: none of us can predict if these tax breaks on pensions will still be around in future.

"Finally, I like to invest my money on things which give me pleasure, or are of some use in my business. I collect antiques and art for pleasure. For instance, I have a collection of clocks bought from British Rail - one was made in the 1860s for the London to Brighton South Coast Railway. Ten years ago it cost me pounds 90. Now it's worth at least pounds 400.

"I've also bought commercial property rather than put money into pensions. This is a long-term investment, but looks cast-iron. I can always sell or rent out.

"Recent scandals over mis-selling of pensions have surely proved me right."