#give #apartments #life #annuities #resort
This is a dangerous and unfortunately increasingly common practice: retirees decide to transfer their apartments to mortgage funds in exchange for the so-called life annuity. The conditions offered to them often cause even greater problems.
- The latest report of the Association of Financial Companies (ZPF) quoted by TOK FM shows that the average age of mortgage fund clients is 76 years.
- In turn, data from the Ministry of Justice show that last year a total of almost 17,000 contracts were concluded in Poland. “lifetime benefits”, and the contracts were often constructed unfavorably for retirees
- Mrs. Janina from Krakow almost became a victim of such an action, as she found herself in a difficult situation after the death of her husband and son.
- You can find more such stories on the Onet home page
Low pensions and rising costs of living are problems that many retirees in Poland have to face. Some of them have much less than PLN 1,000 to spend on life and medicines. PLN per month. For this reason, they reach for every possible lifeline. One of them are “life benefits”, i.e. the so-called life annuities.
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Mortgage funds offer “life annuities”
There are more and more mortgage funds operating in Poland, tempting retirees with “life annuities”. They sign contracts with them, which in theory are supposed to guarantee them additional money every month and the right to live in their apartment. After the death of these people, the apartments will become the property of the fund. However, contracts are often constructed in such a way that retirees can be thrown out of business overnight. All because many of them are unable to properly analyze the documents they sign.
Concluding such transactions in our country is becoming more and more popular. The latest report of the Association of Financial Companies (ZPF) quoted by TOK FM shows that the average age of mortgage fund clients is 76 years. They hand over apartments worth PLN 411,000 on average. PLN, and in return they receive approximately PLN 1,000. PLN per month. In 2023, PLN 4.8 million was paid in this way, which is an increase of over 50%. greater than the year before.
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Data from the Ministry of Justice show that last year a total of almost 17,000 contracts were concluded in Poland. “lifetime benefits”, and the contracts were often constructed unfavorably for retirees. Mrs. Janina from Krakow almost became a victim of such an action. After the death of her husband and son, she found herself in a situation that did not inspire optimism.
She wanted to give up the apartment in exchange for a “life sentence”. “Last resort”
In exchange for giving up her apartment, the mortgage fund offered her a lifetime annuity of PLN 1,100. PLN per month. — I was told that the “life annuity” is the last resort for the increasing number of seniors who have starvation pensions. And I admit that it all sounded good – said Mrs. Janina in an interview with TOK FM.
Before signing the contract, she consulted with friends and a lawyer neighbor, who strongly advised her not to sign an agreement with the fund. — It turned out that the apartment would become the property of the fund not after Mrs. Janina’s death, but when she signed the contract. Supposedly, the pensioner would get a guarantee of living there until death, but in my opinion it was a guarantee written on water with a stick, said lawyer Magdalena Rachoń. In addition, the pensioner was verbally promised PLN 1.1 thousand. PLN per month, and the amount entered into the contract was PLN 300 lower.
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Ultimately, Mrs. Janina signed a “life contract”, but not with the fund, but with the former girlfriend of her deceased son, with whom she is still in contact. Before concluding the contract, both parties carefully analyzed all the details.
