AN Andover couple are facing an uncertain future as their retirement plans are shattered by the collapse of the Lionheart pension Scheme at Croydex.

About 600 employees and former employees of the company on Walworth Industrial Estate face having their pensions dramatically cut following the wind-up of the scheme.

And a further 300 pensioners will have their pension rises reduced.

Warehouseman Bill Warman, aged 62, has worked for the company for 47 years since he was just 15-years-old.

But it now looks as though he will be one of the ones badly affected by the collapse.

He and his wife, Sue, who live in a one-bedroom house in Albany Mews, were hoping for a tax-free lump sum of £17,322 and an early retirement pension of £6,000 a year.

Bill and Sue have not been officially told what the pension will be, but they fear the worst - and another employee believes that Bill's pension could be reduced to as little as 10 per cent.

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