Milkman - whilst there may be benefits sometimes in handing your hard-earned money over to a private company to invest for you, there is also absolutely NO GUARANTEE that investing privately will give you your money. The endowment policy fiasco in the UK is a perfect example of a situation in which people were told to pay interest only mortgages, while putting extra money into a private savings account. Those accounts are now paying FAR LESS than people expected because of the fluctuations in the money markets. Giving your money to others to invest for you may actually mean you end up with nothing. As I've said before, just look at Enron and Maxwell. Pensions, benefits, the lot, all gone.