Pension advances - an advisory for older consumers

Good morning, Today, we released a consumer guide and advisory about pension advances. Pension advance companies offer retirees and veterans a loan or cash advance in exchange for all or a part of their pension payments. Paying back the advance or loan, plus the high interest and fees that such loans typically include, could threaten older consumers retirement security. We've outlined three recommendations you should take to protect your retirement pension when considering an advance. Take a look at our consumer advisory here:http://www.consumerfinance.gov/blog/consumer-advisory-3-pension-advance-traps-to-avoid/ Please share this advisory or the pdf guide available for download with the older consumers and their families that you serve. If you know someone who’s received a pension advance offer, we want to hear about their experiences, good and bad. Please ask them to share their story at: Consumerfinance.gov/your-story/ Thank you, Nora Dowd EisenhowerOffice for Older Americans