Allocated Pensions

Those that get some lump sum as retirement benefits as 'superannuation' or 'provident fund' or 'gratuity' invest the lump sum with 'investment fund managers'.

These fund guarantee a minimum and maximum range of amount the investor can receive back from the fund managers each year for next 10 or 15 years.

They guarantee some 4 to 10% growth on the investment.

What they don't tell you is that, your investment of lump sum will become 'zero' at the end of this 10 or 15 year period.

What if the investor has long life and lives more than 15 years after retirement? Is this not a cruel deceit on retired person?