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Seniors, Beware Selling Your Pension

Seniors Warned, Think Twice Before Selling Pension: "The practice of retirees selling their pensions for a lump sum has drawn U.S. regulators' attention, with two government watchdogs this month warning consumers about some of the firms that engage in the practice. "We're very concerned about the long-term detrimental effects of these pension sales," said Lori Schock, director of investor education at the Securities and Exchange Commission. "While there are some legitimate firms, there are plenty that are not, and it's a challenge for us as regulators to keep track of them," Schock said. "Some of these are scams.". . ." (read more link above)

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