Recently we have seen episodes that have made people’s financial lives suffer approaching their retirement.
Two particular episodes have made recent headlines:
• Private U.K. pension company ‘Equitable Life’ has effectively gone out of business. Estimated total losses for the company were reported to be almost €6bn. Policy holders have received a sum in compensation that was the equivalent to one-fifth of what was owed to them.
• Taxpayers may end up having to pay tens of millions of Euro to pay back what has been a catastrophic management of funds at Newbridge Credit Union.
How important is your pension?
You’ve worked hard for the money that you’ve earned, take special consideration and carefully evaluate your options. If you‘ve already invested your pension, you should review the financial strength and stability of the company you’re with.
