Equitable Life withdrawal Penalties UNFAIR?

Bushey

I had my investments with Equitable life for some years until I like many others wouldnt take any more risks with a failing Investment Company (/Bank? /Institution) & decided to withdraw my Investment funds and place them elsewhere.
When I contacted Equitable they had added NEW penalty clauses to their terms and conditions due to the position the company was in and upon withdrawal of my investments I suffered thousands of £'s in withdrawal penalties. Now my question is this. in the light of Unfair Charges against Banks, Unfair penalty clause's on mortgages etc, would it be possible that there could be a case found for the Equitable to be found to have levied unfair charges upon investers when making their withdrawals?? and would there be a case to reclaim these unfair penalties levied against the investor on withdrawal of what would be their own money?
any Idea's???

dunstonh

Now my question is this. in the light of Unfair Charges against Banks, Unfair penalty clause's on mortgages etc

No.

would it be possible that there could be a case found for the Equitable to be found to have levied unfair charges upon investers when making their withdrawals??

No.

and would there be a case to reclaim these unfair penalties levied against the investor on withdrawal of what would be their own money?

No.

The charge they make is called a market value reduction (or market value adjustment). They are in the contracts of most with profits plans. The amount of the MVR can be adjusted by the company depending on the level of withdrawals, performance and funding that exists.

Bushey

oh well, thanks for that