What is the Best Offshore Pension?

What do banks do with our pension money we pay into? And will we get a pension in return?

• Hi just simple question, what do banks/other pension companies do with the money we give them in return for private pension ? I mean we pay a weekly/monthly amount for a private pension when I'm 60(currently I'm in my early 30's) Ive been told banks invest this money and then in future pay u a pension, My question is what happens if they make bad investments , does that mean I won't get pension ? Even though ive paid for on so many years ? And why does goverment keep telling us to get private pensions when an if this risk exists that banks can loose ur pension an u may not get one if they make bad investment. Thank you all very much

• Answer:

  Hi! Banks put your money in the stock market and gamble with your money and at the end...make you take out an annuity on your pension, which won't give you any money at all. I give free financial advice after working as a financial adviser for several years. If you would like to know more and for free advice, you can contact me at: [email protected] or you can use the Yahoo! messaging system. Take care, and have a good day. -Rick, The Pension Specialist.