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    • molerat
    • By molerat 17th May 17, 9:27 AM
    • 16,607Posts
    • 10,825Thanks
    molerat
    Cold Called - Watch Rip Off Britain
    • #1
    • 17th May 17, 9:27 AM
    Cold Called - Watch Rip Off Britain 17th May 17 at 9:27 AM
    Rip Off Britain item on cold calling pension scams. One guy ended with only £30K from his £210K pot (after the taxman had taken their £40K off him) ! BBC1- catch up on iPlayer.
    Last edited by molerat; 17-05-2017 at 9:41 AM.
    www.helpforheroes.org.uk/donations.html
Page 1
    • atush
    • By atush 17th May 17, 10:18 AM
    • 16,090 Posts
    • 9,797 Thanks
    atush
    • #2
    • 17th May 17, 10:18 AM
    • #2
    • 17th May 17, 10:18 AM
    Watched it. Wont stop many/most though.
    • prosaver
    • By prosaver 17th May 17, 10:34 AM
    • 6,457 Posts
    • 5,005 Thanks
    prosaver
    • #3
    • 17th May 17, 10:34 AM
    • #3
    • 17th May 17, 10:34 AM
    How does the pension thing work?
    If you get a grand a year pension, do you get that till u die..?
    so do they calculate the value by ,
    U retire at 60 and they think u wil live to 80, so that 20 years pension, so your pensions worth 20 k
    Ì google it ,, nothing ,just adverts.
    • Linton
    • By Linton 17th May 17, 11:39 AM
    • 7,958 Posts
    • 7,761 Thanks
    Linton
    • #4
    • 17th May 17, 11:39 AM
    • #4
    • 17th May 17, 11:39 AM
    How does the pension thing work?
    If you get a grand a year pension, do you get that till u die..?
    Originally posted by prosaver
    Yes, and for DB pensions the £1K is usually increased completely or partially with inflation.

    so do they calculate the value by ,
    U retire at 60 and they think u wil live to 80, so that 20 years pension, so your pensions worth 20 k
    Ì google it ,, nothing ,just adverts.
    That at a simplistic level is the starting point. The other key factor is that the DB pension scheme will be investing the money that it intends to use in the future to pay the pension. When interest rates are very low, like now, the pension scheme needs to set aside more money. Which is why transfer values are currently unusually high.
    • Linton
    • By Linton 17th May 17, 11:58 AM
    • 7,958 Posts
    • 7,761 Thanks
    Linton
    • #5
    • 17th May 17, 11:58 AM
    • #5
    • 17th May 17, 11:58 AM
    How does the pension thing work?
    If you get a grand a year pension, do you get that till u die..?
    so do they calculate the value by ,
    U retire at 60 and they think u wil live to 80, so that 20 years pension, so your pensions worth 20 k
    Ì google it ,, nothing ,just adverts.
    Originally posted by prosaver
    Alternatively for a DC pension you start off with a lump sum in a pension and can do various things with it, including buying a payment every year. It's the value of the pot that is defined and the amount of income you can get from it is the outcome.
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