Articles by Alexander Lorenz

Russia's Own 'Mis-Sold Pensions' Scandal

  • 21 June 11
  • Raiffeisen Pension Fund
The term "mis-sold pensions" was coined in the early 1990s when the British financial market suffered a series of pension scandals that included misappropriated retirement savings at the Maxwell printing house and the National Bus Co., as well as millions of corporate pension account holders, who were tricked by over-enthusiastic agents into switching to private pension plans that turned out to be far less attractive because of higher fees.