30k out of pocket

Silvertabby

hugheskevi said:

Silvertabby said:

When the 'pension freedoms' were first announced, even though they only applied to DC schemes, the DB LGPS was swamped with calls from both current and deferred members wanting their pensions under 'the new rules'.

Many of the callers seemed to be working on the assumption that 'their' money would just be transferred to their bank accounts.  

It was a nightmare managing DC schemes which did not offer the freedoms - very few members could understand that the rules were permissive, not mandatory, and that generated so many ill-informed demands.

..... the number of times I was told that I was wrong, that I didn't know my job, and that 'it' was all over the newspapers