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Of course I'm being cheated, isn't that the entire purpose of financial institutions ?
by Aaargh20318 10y ago
Of course I'm being cheated, isn't that the entire purpose of financial institutions ?
- empthought 10y agoThey will cheat you off of interest, so in that sense, yes, but "a pension you will never receive" is outright theft if true. I don't know why you would believe that your pension would not be paid out at all. It makes no sense for any party involved; it's much better for all involved for you to have that money to spend it in the economy again.
- dx034 10y agoFinancial institutions are private businesses. No one forces you to have a contract with them. Current accounts are very competitive in most countries (i.e. loss making for the bank), all other products are voluntary.