PENSIONERS delivered a rebuke to the NUT's leadership with a demand for tougher action against new regulations which cut the value of teachers' pensions. Attempts by the executive to water down the motion were defeatd. Dave Finch, retired teacher from Croydon, said members' pensions would be cut by as much as a quarter. But the executive seemed to think a fight was unwinnable. Conference backed a "vigorous" campaign.