Depressing pension statement

[BobsPigeon]

Groat said:

Does anyone think us oldtimers who were forced to buy annuities with the proceeds of our pensions should be given compensation for the losses incurred by being prevented from doing something sensible with the money rather than gifting it to annuity companies?

I do.

It depends what you mean by old timers... The ones who have outlived their life expectancy, those pushing towards 90 now probably owe money, it's the ones taking annuities now that are paying for their extended life. The others are dead already and can't be suing anyone.

If you retired in the 90s and bought an annuity you're probably very happy with how things have turned out. There's really no saying how people buying an annuity tomorrow will feel about it in 30 years, if they're feeling anything.

[steve_n]

Talksteer said:

I'm getting the government mandated advice both the IFA and I know that AJBell will do a SIPP so long as the advice was given irrespective of what the advice was!

Not since the 1st June 2021 they won't...

They changed their stance to the same as nearly everyone else and now the advice must be in favour of transferring.

https://www.youinvest.co.uk/faq/do-you-accept-fina...

[Talksteer]

steve_n said:

Not since the 1st June 2021 they won't...

They changed their stance to the same as nearly everyone else and now the advice must be in favour of transferring.

https://www.youinvest.co.uk/faq/do-you-accept-fina...

fk!

Oh well, after my consultation with the IFA yesterday I don't think they will object to me starting a SIPP anyway.