In the mid 80’s I bought an annuity in order to provide income for my retirement. Today I’ve been told that it’s necessary to transfer the fund of any private pensions, small or large, into a single product annuity, ensuring a single lump sum and an annual income. Then it dawned on me: I already have an annuity and would therefore transfer the funds from my other tiny paid-up pension policies into the small paid-up annuity that I’d bought almost 30 years ago. In addition this move, I thought, would save paying fees to a financial advisor who would scour around for an appropriate alternative product. However, when I contacted my annuity company they told me that it wasn’t an annuity, even though every piece of documentation that I have from inception says that it is: in very large black lettering. Apparently it’s just another small pension that would have to be lumped in with all the other small pensions to buy a new product. After a long drawn out conversation with someone on the phone who simply wouldn’t accept that I had an annuity, I distinctly began to believe that I’d been mis sold a product that simply isn’t what it says on the tin. Then I began to think of the many thousands of people who’ve relied on past financial advice only to find, say thirty years on, that they’d been duped. The original insurance seller of the product has no doubt long since retired in comfort, and the company that have taken over the administration of my ‘annuity’ refuse to accept my understanding of my asset. If this isn’t mis selling then I don’t know what is! Along with the endowment scandal, the mis selling of PPI, the mis selling by the financial services group Card Protection Plan, and all the other insurance and banking capers, this could prove to be another revelation in a litany of deceit, all in the name of excessive commissions and bonuses.