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.

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