Pensioners bamboozled into taking rotten deals - AAD Consumer Forum

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5corpio started a blog post Pensioners bamboozled into taking rotten deals
12 November 2014, 09:49

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Pensioners bamboozled into taking rotten deals
as they are sent long wake-up packs filled with jargon and small print

Some workers risk being locked into deals by doing nothing with their pension pots

Retirees are sent bamboozling paperwork sometimes spanning as much as 22 pages

Savers retiring just weeks before the start of the pensions revolution are still being bamboozled into taking rotten deals. And some waiting to take advantage of the reforms even risk being locked into deals simply by doing nothing with their life savings. From April 6, anyone retiring will have freedom to decide whether they want to take their pension pot in cash, or turn it into a guaranteed income using an annuity. The reason for this change is to stop savers being locked in to annuities that can be poor value or unsuitable for their lifestyle.....Read more here
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