Pensions.. Be very cautious what you are doing

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Post by Guest »

Pensions - My late husband worked hard all his life, retired at 65 end of 2001. January 2003 he died. 18 months only of retirement. He had 3 private pensions at 65 and we were comfortable. Upon his death his pensions were cut drastically for his widow and I received a pittance of his former private pensions.

The pension companies kept most of it! Pension companies know the statistics on death rates of men retiring - often not good - a win win for them and their shareholders!

LIve your life to the full now - tomorrow may never come. Be sensible about a pension but remember - private pension companies are in it for themselves. Transferring a pension from one company to another can also cost you thousands. The receiving company take a cut as do the companies you are already with who move the money. Be very cautious what you are doing.

Post by Gill »

Very true… My dad worked hard all his life, even built his own bungalow for us to live in .. he didn’t see one day of retirement because he died of a brain haemorrhage when he was 52 🥲 I miss him every day of my life

Post by Danielle »

My dad died in February only had one private pension, my mum only gets small amount of what he originally got! I think it’s a con! When I retire I will be taking it all in one amount lesson learnt.
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