Channel 4 - how to blow your pension

veryintrigued

What a load of twaddle

FLAPJACK

In what way?

le_loup

FLAPJACK wrote: »

In what way?

Care to elaborate?

Broadwood

veryintrigued wrote: »

What a load of twaddle

I thought it was a good warning. Be very wary of being ripped off.

Why is that twaddle?

hazelh

Quite.
People may be able to blow the lot but they blew the opportunity to give a decent explanation of both sides of the story.
Also the taxation side was not really alluded to at all and the fact that someone with a £7k pension pot as an example would not be out buying expensive fast cars and world cruises and anyway the annuity it would buy would be meagre.
It just came across as a set of over the top ridiculous examples of what you could get into if you don't have your head screwed on properly.
I did like the fact that several times they talked about those TRAPPED in an annuity which if it is such a good thing you would not feel trapped in surely.

FLAPJACK

le_loup wrote: »

Care to elaborate?

Just thought it would be nice to hear the reasoning behind the OP's blanket remark, thereby engaging in a sensible discussion about the programme and the subject.

Thrugelmir

hazelh wrote: »

I did like the fact that several times they talked about those TRAPPED in an annuity which if it is such a good thing you would not feel trapped in surely.

Trapped is a relative term. Perhaps not so bad if you are still receiving the annuity when you are 103.........

hcb42

I guess those that do bother to build a pension are less likely to blow it on a lamborghini - and if they do, it only puts them back in the position of those who didnt save for the future.

Personally I hate the thought of having an annuity, I would rather have the cash out (and I know I would be mega sensible ..!)

veryintrigued

FLAPJACK wrote: »

Just thought it would be nice to hear the reasoning behind the OP's blanket remark, thereby engaging in a sensible discussion about the programme and the subject.

I thought the whole programme was incredible. The highlight being the incisive words from the 17 year old. How on earth did that make the final cut?

What a waste of 30mins.

DancingBadger

I wouldn't have described the programme as an in-depth production; it was certainly very light. That said, not everyone close to retirement hangs around financial websites, reads the financial press, or has an interest in investing.

If that programme saves some people from investing in Far East car parking spaces or US forests it will have served some purpose.

atush

Broadwood wrote: »

I thought it was a good warning. Be very wary of being ripped off.

Why is that twaddle?

Sure that bit was fine, but what about all the stupid factual inaccuracies of which there were very many?

such as (but not limited to) the sad, ill woman. Who said she was forced to take an (presumably enhanced) annuity 4 months before the chancellor's statement. By Aviva. Presented as fact by the presenter (surely MB can do better than this).

But there was no mention of the fact you haven't been forced to buy an annuity since 2006, nor was the open market option mentioned?