MetLife disclosed recently that is failed to pay pensions for “less than 5%” of the beneficiaries with pensions managed by them. The average benefit is less than $150 per month, and would affect up to 15k people. The announcement was made because the cost to remedy this - paying the pensions owed - will have a material impact on earnings. More details here MetLife Discloses Failure to Pay Thousands of Workers' Pensions -- Update
This is one aspect of the discussion on annuities that is not often discussed. Not insolvency, but just not getting paid, and the company not making a serious effort to comply and keeping money that is not theirs.
This is one aspect of the discussion on annuities that is not often discussed. Not insolvency, but just not getting paid, and the company not making a serious effort to comply and keeping money that is not theirs.