Saturday, October 08, 2016

further pension fund mismanagement

hey there

indeed the title is true. sadly, look you see, a further effort of mine to secure or otherwise ensure a reasonable pension fund payout has ended in utter failure. this is despite the fact - and i do not rule out financial mis-selling in this respect - that i was encouraged or coerced to invest more into the pension fund scheme that i normally would.

how much more? the new pension investment portfolio costs 25% more than was the case the last time i purchased some unit trusts, or if you prefer it's now up to £2.50 from £2.00. that said, the returns on investment on offered are now substantially higher, although it seems they are also substantially more difficult to actually access.

this morning, as i dined on my breakfast of preference and enjoyed a particularly satisfactory cup of coffee, i elected to log in to my portfolio services account so that i could see confirmation of the principle payment being made to me. i had expected it to be approximately £137 million, which i feel should more or less cover my retirement plans.

there was, but of course, to be nothing but disappointment when i reviewed my account.

by virtue of the fact that there is a note advising of the intention of the pension fund people to pay out premiums north of £149 million on the next schedule payment date is, by default, and indication that they have elected to not pay them on the previously expected allocation day. it would be nice if they contacted you to instruct this prior to you seeing it on their account page, but no matter.

disappointment with my pension investment schemes is, but of course and alas, nothing new. all the way last year i documented my distress at an apparent raid on my pension fund, leaving me unable to contemplate retirement as of yet. it seems that this distress shall continue.

how far away was i from meeting the satisfactory requirements of a pension pay out in respect of the terms and conditions of the Euro Millions provident fund company? not close enough, apparently.

i'm not at all convinced that "lucky star" is an appropriate term of reference for a financial institution, but no matter as i only had one of the two required, or if you like 50%. i also only had 20% of the required similarities between my policy numbers and their allocated pay out calculation mechanism, or if you like "draw".

what are my options here in regards of accessing my pension from the Euro Millions investment company? well, it seems that they wish for me to pay another £2.50 for a policy, with the carrot teasing this being the slightly larger annuity they propose to issue to policy holders.

one of the great dilemmas about this - despite getting the sense that this is all an elaborate con - is that my funding might be diverted to pay the pension fund over to someone else. and not just anyone else, oh no. my contributions could well end up being part of a payout to a Frenchie, or a dirty Spaniard, or even perhaps a Greek peasant.

but yes, i probably shall reinvest.

despite remaining in poverty, i encourage you still, dear reader, to

be excellent to each other!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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