Pensions Are Increasingly Unreliable for Retirement Income Warns Investments Management Advisor Jeff Voudrie of Common Sense Advisors
PR Web |
Referring to the plight of one woman mentioned in The Times article, investments management advisor Voudrie paints a very frightening scenario: "Imagine waiting years to start getting your pension check, and the month before the first check is set to arrive, you instead get a letter saying that the pension plan had been terminated and that you would get nothing!"
Even if the PGBC is given emergency help, Voudrie warns sternly about overly complacent attitudes shared by those nearing retirement regarding their pensions: "People need to be aware that the pensions they think they can rely on during retirement may not be as secure as they thought. For years, accounting gimmicks have been used to adjust the amount that companies and unions have to annually contribute to their plan."
The end result? "Some plans are severely underfunded," he notes.
What should someone who has either a pooled pension fund or another type of pension do, given these dire warnings in the media? Voudrie has this advice: "It behooves those in pension plans to do the research to find out how well funded the plan is and to continue to monitor it on an ongoing basis." This can be done by checking the annual filings that such plans have to make with the federal government.
Another action point for those who had formerly relied on what they thought would be generous pension payouts is to find a personal money manager who can put a retiree's funds to work for them. It's best to choose a money manager that has an excellent track record. Voudrie's company, for instance, offers a p atented software technology that responds to market movements and is designed to eliminate the possibility of large losses if/when the market tanks.
Entrusting your money to that sort of expertise is increasingly a far safer bet than waiting on a bounteous pension payment, Voudrie concludes.
A financial services industry veteran with more than 20 years' experience,
Contact Information:
877-827-1463
Jeff(at)CommonSenseAdvisors(dot)com
Read the full story at http://www.prweb.com/releases/2014/04/prweb11770279.htm
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