21.   All he lives on is his personal pension.

22.   Buyers of a personal pension generally opt for the standard managed fund products provided by life insurance companies, the main pension providers.

23.   Others toss a bit each month into a personal pension, which they regard as boring, depressing or just a chore.

24.   People can increase their personal pension contributions, which qualify for tax relief at the top marginal rate.

25.   Their personal pension plans are slim or non-existent because their jobs may have been spotty, temporary, or simply low-paying.

26.   To reverse the decline in national savings, he added, the government could legislate to boost personal pension contributions while also eliminating its own budget deficits.

27.   There is also concern about the poor track-record of the pension industry, which has been accused of charging exorbitant administrative charges for personal pensions.