Whilst our Parliamentarians have presided over many pension disasters in their time it seems that their biggest current concerns are not to be reserved for the poor people who may work for forty years or more only to then find their pensions practically worthless – due to badly performing pension products or inappropriate advice etc.
Hi All,
I don’t know about you but some things just make your blood boil. Today the BBC reported on findings from a new survey by Aon Consulting which confirms the lurking fear of so many people who question the true value of a state pension. It seems the stats really are quite shocking…
Paternoster, a specialist insurance company which assesses risk associated with companies’ final salary/defined benefit pension schemes, have just announced findings which leave me with a somewhat bittersweet taste regarding my own longevity. They reckon that as many as 50% of 30 year olds living today will live to be 100 years old. That’s fine and dandy, but two major concerns jump to my mind and probably yours too - health problems in old age, and pensions.
One of my clients phoned me yesterday asking for an urgent appointment. It turned out she had been put in sequestration (bankruptcy) due to a debt of a few thousand pounds of council tax arrears. She had no mortgage arrears and was not behind in any other payments. However, she now faces losing her house and is obviously very stressed.