Questions And Answers
Trustworthy pension company?
asked by Dean Wilkins posted 3 Years ago at 13:57
Hello, I am purchasing an annuity however i am unsure whether the company can be trusted and whether it may go bust? Their offer is excellent, appearing too good to be true, i just hope i am not being tricked! Any advice is much appreciated, cheers, Dean.
1-1 of 1 Answers
Colin Caulfield answered 3 Years ago at 10:35, last modified: 2 Years ago at 14:56Dean,
You should be protected by the Financial Services Compensation Scheme (FSCS). However, this should be viewed as a last option so you are quite right to question the validity of the offer and the company itself.
Best to start by looking at the FSA website to ensure the company is FSA authorised. If they are, then look at comparisons to see how much better of an annuity you are actually being offered.
If it is alot more as you suggest, you then have to make a call (at least knowing you have the backing of the FSA and FSCS)!
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