Yes the pensions industry is a scandal and relying on it to provide cost effective ways of saving for retirement is high risk!

It is perhaps for that reason that the pensions industry had been able to get away with such arrangements for so long.

The case put forward by the pensions industry was less than persuasive.

The second pension could be provided by an expanded pensions industry.

For example, the fact that the pensions industry is undergoing a major legislative overhaul is a threat to our business.

This calculation is common in the pensions industry.

She said: "Some parts of the pensions industry very clearly have a case to answer.

These concerns were shared by representatives of the pensions industry and employers.

Sections of the pensions industry who advise such schemes have already started to protest.