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magda60's latest comments
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23rd Oct 2016magda60 commented on:
Are the Government right to do a Pension U-turn?I think that we should have the choice whether to sell our existing Annuity or not. It seems to me that they think when you get old, you are not able to think for yourself, I find that very insulting its my body thats got health problems not my mind! Just to prove the point please find a small part/point that was brought up in the Parliamentary Debate 'The Sale of Annuities' dated 19th October 2016 chaired by The Economic Secretary to the Treasury, Simon Kirby. Margaret Ferrier (Rutherglen and Hamilton West) (SNP) Share this contribution My constituent, Mr Anderson, contacted me and advised me that, despite the risks, he planned to take up the option of selling his annuity. I wrote to the Treasury and was assured only 19 days ago: “The Government remains committed to delivering these proposals”. Yesterday’s announcement is a betrayal of people such as Mr Anderson. I notice that the Minister did not answer the question a few minutes ago, so what exactly do the Government suggest that Mr Anderson and others do now? Simon Kirby Share this contribution Obviously, Mr Anderson is as important as all the other people who, no doubt, will be very interested in this announcement. It transpired through consultation that a very small percentage of people would be better off. We were looking at legislation that would oblige the Government to provide guidance and advice; in the vast—very vast—majority of cases, that advice would be that it would not be appropriate and in the consumer’s best interests to proceed. There is no easy answer, but at the end of the day, I am not going to allow vulnerable older people to take advantage of what may, superficially, seem a good deal, but what, in the long term, is a poor one Through the whole of the debate Mr Kirby relates to us, on numerous points as "Vulnerable Older people", I think of myself Older but certainly not vulnerable, my mind is very alert and my judgement is great, how dare he be so patronising about pensioners, shame on him!!!