The Government Theft of Retirement Accounts Has Begun |

The Government Theft of Retirement Accounts Has Begun | Dave Hodges – The Common Sense Show

I can remember when Private Pensions came out in the Uk. There were many stories that they covered absolutely everything and they would provide tremendous income as well as act as surety against interest only mortgages.
Rather than believe all the stories going round I applied for a job selling them in order to find out what they were all about. I was told to tell the punter any story and answer all of their questions about coverage with oh yes, no problem. When I questioned this, I was told that by the time that the punters found out, I would have retired,so why worry about it? The name of the game was commission. An average pension plan got the agent about £2,000 and some were signing up relatives and paying a couple of months fees, collecting the commission and then defaulting.This practice was,eventually stopped by insisting that the plan had to run for a year or no commission.
If any Government goes after these plans, they will find that there is nothing for them to grab!