Beware of pension 'rip offs'
Submitted by rmtlondon on 31 March, 2016 - 13:41Dear Colleague,
TO ALL TFL PENSION FUND MEMBERS - BEWARE OF PENSION RIP OFFS
I have been contacted by our representatives across LUL/TfL who have raised with the RMT their concerns that financial service (insurance) companies are offering to “release” TfL Pension Fund members' pensions in return for a lump sum payment. I have been passed letters from a certain company who are offering a lump sum payment of 25% of the members' total TfL Pension Fund value with the remaining amount being reinvested.