Letter: Pension promise broken

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The Independent Online
THERE have been many reports on pension sellers who misled people. I cannot help comparing them with previous governments who took people's money with an agreement to provide them with pensions when they retired.

The agreement was that pensions would rise in line with the cost of living. It remained until the 1970s. The link was broken by the Thatcher government. If a commercial pension provider had made the decision to change the terms of an agreement unilaterally, then any court in the land would have reversed that change. I wonder how the "New Labour" morality can correct this situation.

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