The chief executive of one of the biggest public-sector pension funds has backed Lord Turner's call for the state retirement age to be raised to 70, to help keep public pensions affordable as society ages.

Mike Taylor, chief executive of the £3.2bn (€3.5bn) London Pensions Fund Authority, addressed the National Association of Pension Funds' annual conference in Manchester this morning, telling them that rising life expectancy was the biggest threat to the sustainability of UK public sector workers' generous pensions; and hence to the taxpayer.