Talking of annuity errors look at this annuity advice 'error' by dunstonh. In the thread below a poster asks whether they should take up a single life guaranteed annuity rate and is basically given the impression by dunstonh not to bother with it if they have dependants to look after. However dunstonh fails to point out that taking the single life guaranteed annuity rate on beneficial terms and purchasing separate protection for dependants would be a potential workaround for the original poster saving them £1,000's. It is only when that thought is brought up later in the thread that dunstonh starts to mention it. Now surely that omission is much more relevant in that discussion than the drawdown option is in Martin's appearance. Perhaps dunstonh didn't have the time to clarify or perhaps he thought his audience's understanding was too low?
It is a true reflection on IFAs like dunstonh if they cannot come to the complete defence of Martin on this one.
dunstonh wrote: »
I cannot see any error in what was posted. I certainly do not give that impression you suggest. I have pointed out potential issues and left it at that. Did you really dig back to 2009 to try and find something?
dunstonh wrote: »
I was actually more disappointed with the response.
brianrhill wrote: »
I'm unsure how you would know if people had seen the video or not, I certainly have. I very much doubt you've had loads of IFA's and commentators emailing you, feel free to post them here.
On Daybreak's website http://!!!!!!!.com/4zdtjod you say:"When you retire, if you have a private pension fund most people need to transfer it into an annuity – a product that pays a set amount every year until you retire."
This is just not at all accurate.
I hate jobsworths!
Martin, tell them all to get lost and keep on doing what you are doing... which is saving people money by educating them in the ways of finance.
MSE_Guy wrote: »
That was a typo on the Daybreak website which they have now changed.
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