Cable Forum - View Single Post - Retired may be able to sell their pensions.

Osem · 04-01-2015, 11:07

http://www.bbc.co.uk/news/uk-politics-30670639

I have grave reservations about all of this. At a time when personal debt is huge because most people would rather spend than save, I don't see the wisdom in allowing people to cash in their guaranteed pension entitlements. I agree that in theory it seems right to give people the choice but all those who're already funding their lives through borrowing are already doing that and heading towards retirement in debt as opposed to surplus. Furthermore, given the financial sector's rather dubious history concerning the miss-selling of PPI, personal pensions and the like, I can see a whole lot of vulnerable people becoming the victims of sharp practice and having their major (non property related) asset frittered away in commissions/charges, failed investments or spent with too little regard for what happens when it's all gone.

04-01-2015, 11:07	#1
Osem Inactive Join Date: Oct 2006 Location: Right here! Posts: 22,315	Retired may be able to sell their pensions. http://www.bbc.co.uk/news/uk-politics-30670639 I have grave reservations about all of this. At a time when personal debt is huge because most people would rather spend than save, I don't see the wisdom in allowing people to cash in their guaranteed pension entitlements. I agree that in theory it seems right to give people the choice but all those who're already funding their lives through borrowing are already doing that and heading towards retirement in debt as opposed to surplus. Furthermore, given the financial sector's rather dubious history concerning the miss-selling of PPI, personal pensions and the like, I can see a whole lot of vulnerable people becoming the victims of sharp practice and having their major (non property related) asset frittered away in commissions/charges, failed investments or spent with too little regard for what happens when it's all gone.