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Pension problem


Jackie Whitelaw's comment on the ending of tax relief for pension funds (NCE 5/12 April) is more balanced than the news article in the same issue, but both suffer from an incomplete review and analysis.

For instance you do not mention the near lack of comment or condemnation by the CBI or companies at the time of the 1997 government decision or the 50% fall in the Stock Market FTSE Index between 2000 and 2003.

These factors, combined with the actuarial reality of people living longer, have had a much greater effect on pensions, whilst the contribution holidays many companies exercised in the time of stock market boom is conveniently forgotten.

The need for companies now to disclose any pension debt they are carrying and the need to clear it is to be welcomed; this is the reality of the commercial world that consultancies now live in.

David A Walker (M), Walker, David uk

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