Friday, February 10, 2017

(hopefully becoming) Pension Wise and (41)



When we had a  Chancellor (George Osborne)  who had ambitions to be PM and a future in Europe's EU he kicked off a 'reform' to what we could do with our so called Pension Pots.


As is so often the case some good intentions have become overly complicated and many customers are woefully ill prepared to make some pretty major decisions as they move towards retirement.


My fear is that some of the suggested plans and strategies  that are out there are likely to lead to a new level of miss-selling and unsuitable decisions being made.
Not the nicest place to meet

In an attempt to get some idea of my potential choices I yesterday met with a PensionWise 'Guider' (clearly not an adviser), at the end of it I felt like I'd been guided into an area deep within the Pension jungle - this is a 'free' session but I feel like I've only just started a long and convoluted journey that could potentially involve sessions with IFAs (it stands for Independent Financial Advisers and I guess it could be costly) and some banging of my head against a brick-wall.


If we go back to the introduction of the ability to use the funds we've saved during our working career to provide income from something other than a standard annuity my fear is that not only was it brought in with out the right infrastructure being there to support it  but that it  heavily influenced by the existing suppliers  and the choices arr not customer friendly or easy to make (in fact it seems that only half the planned 'reforms' are and will be enacted).

My session was delivered at nearby CAB premises under the auspices of PensionWise - not very lovely premises  and the appointment was a 45 minute one.

  I was informed that my appointment was with one 'Guider' in fact I had someone else, I was also rather irritated that the person chose to have not one but 3 phones on during our session - much better and more respectful  if they had been turned off.

To be fair I did get a lot of information and generally my questions were answered but I fear that reform is not the right term for what has happened  -expect more on this topic I will start to access some of my pension funds this summer - I'm ready to ask questions and get the best deal I can.

 (and here's a useful link)


£54.45 reads the same the other way 

Doors

Keep opening..

Deep in the heart of  W13 Hartington Road










Oh yes do you have any idea what the red logo is or means in the glass?

Always something to find out..




The number is almost submerged beneath a layer of white paint 

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