Generali, Friends Provident, Zurich International, Skandia, Royal London 360, Aviva - has a commission-hungry "financial adviser" ever tried to lure you into buying one of these insurance company's investment-linked plans? If you did, you are a victim of a legalized, corporate scam.
Off-shore pension plans sound great to expatriates, but the reality of these plans are: no liquidity or flexibility, HUGE early-surrender penalties and hidden fees, little regulation or consumer protection "offshore", and advisers who will lie to get your signature.
Since "financial advisers" receive huge commissions from the insurance companies, a conflict of interest is created: the "insurance company" needs to regain their money bribed to the adviser via complex fee structures, years of contributions, and poorly managed investments. At best, the investor earns slightly above inflation, is extorted money, and experiences the brunt of a lack of international financial legislation.
In signing this petition, you will be showing your support by, 1) raising awareness of the illegitimacy of these plans, 2) protecting future victims from being tricked into signing and, 3) pressuring the regulatory authorities to improve and increase international finance legislation.