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19th December 2018
:: Blog | July 2008 (14 blogs) | Loss of expectation is...

 
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Loss of expectation is 'distress' and causes disengagement 
 
Having read the 180 pages of the DWP’s report on annuitisation decisions, evidence suggests that many of the people who become disengaged with pensions and retirement planning do so because of too high expectations.
 
This might have arisen because a saver has seen a fund statement some years ago that had poorly performed, resulting in a loss of confidence and resignation that there was insufficient time or spare cash to achieve a decent pension.
Of course, it is also likely to be that poor or infrequent pension communication has taken place or that no pension education was ever undertaken by the invidual concerned.
 
It is therefore interesting to note in the Financial Ombudsman’s latest technical update that loss of expectation is a term included in the definition of distress. You might be surprised to see what other terms are included for distress, as well as inconvenience and pain and suffering. See:
Mike Jones, MyCompanyPension.co.uk, 18th July 2008
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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