Allders, dinosaur-like, is collapsing into receivership as more than 60 predators circle around, hoping to bite off juicy bits.

Allders of Croydon has already been taken over by the property company Minerva.

What about Allders staff, many of whom have paid into the Allders company pension scheme for years?

What are their prospects for a happy retirement when the fund has a £15million hole in it?

Minerva has denied responsibility for any part of the fund.

These are the worries facing thousands of people in the retail sector as the battle for high-street supremacy sharpens.

Allders, Woolworth's, WH Smith, Sainsbury's, Marks and Spencer, the list goes on and on, all huge companies showing real signs of floundering and many leaving their employees in the lurch.

Why in the lurch? Because in most cases their pension funds, worth millions of pounds, are in deficit.

All this as repayment for the loyalty shown over the years by their workforces, numbering many thousands who were once looking forward to a secure retirement and are now fearing for their future.

Labour promised legislation to protect employees in this situation. How effective will it be? Its financial assistance scheme is not even here, yet it has already been written off as inadequate.

The treasury will not be donating cash to it before 2008. All need not be lost, the money is there to help all pensioners, what is missing is the political will.

Every party in the coming general election promises solutions to the pension crisis but the only way to ensure a real difference is to replace professional politicians with honest, aware candidates appointed by future pensioners banding together with today's OAPs.

Bernard Rickman
Croydon Pensioners
Alliance