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[2boxerdogs]

The simplest way to explain a pension is you are taking a gamble on living long enough to benefit from an investment, I am fortunate enough not to have to rely on these pensions alone, because I am dare I say a civil servant,  so will have a reasonable gratuity/pension when I decide to retire completely.I was advised when a lot younger to put money away into a private pension for my old age but nowadays it is in my opinion it is not a good idea, a lot of folk are" bamboozled "by figures & think that major  financial institutions are trustworthy they are to a point, it is in fact a" legalised con".

[jonathanh]

The simplest way to explain a pension is you are taking a gamble on living long enough to benefit from an investment, I am fortunate enough not to have to rely on these pensions alone, because I am dare I say a civil servant,  so will have a reasonable gratuity/pension when I decide to retire completely.I was advised when a lot younger to put money away into a private pension for my old age but nowadays it is in my opinion it is not a good idea, a lot of folk are" bamboozled "by figures & think that major  financial institutions are trustworthy they are to a point, it is in fact a" legalised con".

and we do agree on that completely.  As the thread started out from someone who was told something by a well know insurer and even they cannot get their facts right!  It took me almost 30 minutes to track the reference down but that was only because I was pretty certain there was something to find in the first place.  how many people would have just taken their word for it?