John Thom is one of an endangered species. On the day he retired from Clydesdale Bank, he knew he didn't have to worry about the future. Even though he was only 51, with his youngest son just starting university, he had a final-salary pension scheme to fall back on.
After more than a decade in retirement, John and his wife Frances are not exactly living the high life but they are not on the bread line either. They saved up for a 10-day Caribbean cruise this winter, and this weekend they are off on a short break with friends.
John and Frances, however, are the lucky ones. The pension that is supporting their existence is an increasingly rare commodity. The generation of British workers about