A retired financial consultant has been forced back to work in a supermarket after losing thousands of pounds in the pensions crisis.

Tony Kilner's pension fund has been cut by more than half because of the stock market slump and now he has written to Chancellor Gordon Brown to demand more protection for people in a similar situation.

When Mr Kilner, pictured, retired seven years ago he had built up a private pension fund of £100,000 - now there is little over £45,000 left to last him for life.

Originally he took out a £25,000 tax-free lump sum from the £100,000, which left him with £75,000. But now only £45,195 of it remains as his scheme is linked to the stock market. He also lost £5,000 after being penalised for switching companies.

Mr Kilner, of Bierley, Bradford, has written to his MP Gerry Sutcliffe and the Chancellor Gordon Brown to demand changes to pensions laws.

"People like me who have worked hard all their lives to save are caught up in a trap because of prevailing world conditions which effect the stock market - all of which we have no control over," he said.

"People who have reached 60 and want their money now are being penalised by the current system and need protecting."

Mr Kilner, aged 63, who works part-time as a greeter at a supermarket, said: "When I started work at the supermarket it was for a bit of time-filling to keep myself active but now it's a necessity and I'm having to think about asking for extra hours.

"The Government is giving out advice now to younger generations telling them to plan for their pensions but what good will it do them if things stay as they are now because there'll be no guarantee that there'll be anything waiting for them at the end of their careers."

A Financial Services Ombudsman spokesman said: "We are experiencing situations like this from all over from people.

"It's disappointing for people who come to retirement to find what they are getting is less than they anticipated but the nature of the pension is that of an investment.

"Some pensions are linked to properties and equities, but whatever the link, there's always this volatility. The risks of the markets going up and down are always there and that's why fund managers have to play the market to make clients' money grow so it's wise for people to make an annual check on how there fund is doing."

Gerry Sutcliffe MP said he sympathised with Mr Kilner and added: "That's why we have introduced the Green Paper recently to look at the aspects of pensions and see how they can be improved for people like Mr Kilner."