Go into any gambling shop (Corals, Ladbookes, BetFred etc etc) and you will see many people looking for a return on their investment! Using your own words “Surely they are entitled to a return.”
How come these people have a recognisable illness, but people who gamble on the Stock Market apparently do not?
One of my mates put a lot of money into his pension plan. The phrase “It is an equitable life Henry.” kind of soured when he found that the £3,000 per month he was promised had gone down to £400 per month! I don’t think he trusts people not to rip him off nowadays; and I try to emulate his lack of trust!
In my experience, “Financial Planning = Let Someone Else Look After My Money”!
The Police even ran adverts to put people off by showing a man on water-scooter laughing like mad ‘cos he was enjoying someone else’s pension!
Many Pensioners have been ripped off by their Financial Planners and “Ring Fencing” pensions is now a myth. I suggest that you look up “Mirror Group + Robert Maxwell” or “BHS + Philip Green” and you will see a pattern.
To misquote a previous Post, “Surely they deserved a pension!” and to ensure that they got something, the Tax Payer bailed them out!
I wonder where the Stock Exchange was?