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Knowledge » Annuities
Robert Powell reports on the simple pension mistake that could cost you big...
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8Financial services details in the UK have been left as mysteries by the providers and governments for decades. In the 1950s only basic information was provided on insurance policies in general. My parents would only pay what cash they could afford and would trust the premium collector (the man from the Pru) for any advice. Then the insurance sales push started in the late1950s to increase profits. Commerce and financial services moved ahead getting further away from the few out dated regulations and beyond the understanding of the majority of politicians. To this day the UK suffers from highly intelligent and highly qualified but incompetent politicians, public servants and, so called, business persons. The result has been that the UK citizen is still unclear as to the nature and hidden costs of insurance. I am very angry and cynical that the UK government still is more interested in banning 60 watt light bulbs, wrecking the armed forces and expenses claims than dealing with the real issues. When I think of the Equitable Life mess, bank mess, crime mess, EU mess, energy mess, it is clear to me that we need laws enacted and enforced, amongst other things, to stop pension and other losses occurring.
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| Provider & account name | AER/Gross | Interest paid | Apply now |
|---|---|---|---|
ING Direct
|
3.10% / 3.06% |
Monthly | Apply |
Derbyshire BS
|
3.06% / 3.06% |
Yearly | Apply |
Post Office®
|
3.01% / 3.01% |
Yearly | Apply |
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