LETTER: Private pensions untrustworthy

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The Independent Online
Sir: I do not trust the Tories on pensions (letters, 28 April). Private pensions have an untrustworthy track record.

After the Maxwell misappropriation of pension funds, there is still no fast statutory regulation to prevent similar occurrences.

The record of selling inappropriate pensions is appalling; years later only a tiny fraction of the victims have been recompensed.

The cost of marketing private pensions has to be paid by the recipients; 25 per cent of premiums in America go in the marketing and administration.


Great Bookham, Surrey