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Pensioners robbed again

Minivanman
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Registered: 04-11-2014

Pensioners robbed again

There was widespread anger today that a government U-turn meant that five million pensioners who had been mis-sold worthless annuity pensions would now not get the chance to be ripped off all over again by swapping them for a lump sum.

"George Osborne had promised that we'd get the chance to be scammed all over again by unscrupulous conmen targeting easy marks like us" said one confused and angry pensioner. "This is all very difficult to swallow, not unlike the Whiskas pouches that I am eating for dinner every night"  

There was however, support for the government U-turn from Dignitas, who said the total disarray over pensions meant their business was booming.

Private Eye 1430

All views expressed are my own but you can express them too if you want to be right about everything like I am.
2 REPLIES
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Re: Pensioners robbed again

Whilst I agree this is wrong and believe if it's your money you should have the right to do with it what you want I wonder if the government is concerned that giving access to this money may mean many would spend the lot and then be applying for income topup.

If you are getting a second pension, no matter how small I think this is taken into consideration if applying for a topup.

Topup is not the correct word but you know what I mean.

Minivanman
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Registered: 04-11-2014

Re: Pensioners robbed again

I think you may be referring to pension credit, as it's what I receive.

As it stands at the moment (and I don't mind sharing this as it's important) my small annuity of just over £100 a month is deducted from the amount I receive which whilst fair enough, it also seems a bit unfair given that I did at least make some provision for my retirement however small it finished up. I then asked the DWP that if I cashed in my annuity as was proposed by the last administration, would they make up the shortfall - in other words would I then receive my full pension credit entitlement - and the answer was an emphatic no because in effect I had made myself worse off.

It does seem that if you tick all their boxes they look for the box that you don't.

All views expressed are my own but you can express them too if you want to be right about everything like I am.