Large proportion of solicitors have Equitable pensions

As many as 40% of solicitors have pension savings with troubled mutual society Equitable Life, a snapshot survey suggested this week, after the appointment of...As many as 40% of solicitors have pension savings with troubled mutual society Equitable Life, a snapshot survey suggested this week, after the appointment of Vanni Treves, former senior partner of City law firm Macfarlanes, as its chairman.

The survey of 31 lawyers by self-invested pension policy adviser Pointon York showed that 40% had policies with the Equitable; almost all of those polled said they wanted more control over their pensions.

Michael Simmons, partnership law partner with London firm Finers Stephens Innocent, and a member of the Equitable Policy Members Action Group, said he was surprised the figure of 40% was not higher.

Mr Simmons said lawyers used managed pension funds because theyre like the cobblers children without shoes: theyre so busy looking after their clients that they have no time to look after themselves.

Jeremy Fleming