Letter: Shephard's pension changes mean mass exodus of teachers

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The Independent Online
Sir: Over 40 years or more, teachers have paid 6 per cent of their salaries, and their employers more than that, into a "National" Pension Fund. In other words, their pension contributions have disappeared into the public purse, which, until recently, has paid out less than this in pensions, and thereby made a profit.

If those contributions had been invested on behalf of the teachers, instead of being spent, it would seem unlikely that the present shortfall could have occurred. A private pension fund would be legally bound to invest, yet a government is not.

GEOFF HINCHCLIFFE

Thetford, Norfolk

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