I was interested to read Martin Williams's article ("Annuity probe amid fears pensioners are losing out", The Herald, February 1).
Twenty five years ago, at the behest of a certain lady Prime Minister, I took out a private pension. Now, with only a month to go till it matures, I am in shock to learn how little pension I will receive.
I am only allowed to remove one-quarter of the fund as a tax-free lump sum, due to Government legislation.
With the rest I will receive a derisory amount on a monthly basis – not leaving much after I feed the dog.
I calculate that I will have to live until I'm over 90 to get my money back, so would have been better to put the money under the mattress.
On speaking to several others in a similar position, I cannot understand why there is not a public outcry over this.
The only winners are the pension and annuity companies and so-called independent financial advisors with whom I have no recourse after 25 years.
We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis. If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules, which are available here.
Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.