AIG - Pensions lost if they goi bust...

rb6k

My mums pension is with AIG because a company she worked for put it there, so she is set to lose it all if they go under. Is there anything she can do NOW before they go under, to get it back?! Or is there anything she can do AFTER if they do go bust?

I don't really know how all this works, but she is fuming today as she has paid into it every month and its all gone tits up for her.

fishy1ta

Don't panic, don't withdraw all your money, don't spread the panic, and AIG is less likely to go bust.

EdInvestor

AIG looks likely to survive.If there was a problem she can go here for compensation of 2k + 90% of the unlimited fund.

https://www.fscs.org.uk

whiteflag_3

EdInvestor wrote: »

AIG looks likely to survive.If there was a problem she can go here for compensation of 2k + 90% of the unlimited fund.

www.fscs.org.uk

so are you saying that given all AIG's UK pension funds are ring fenced unit linked funds (and many Multi-manager (sorry fund of funds!)), if AIG go under in the US, the UK pension funds are at risk?

Trying to keep it real!

EdInvestor

I'm saying that pensions with UK registered insurance company providers like AIG are protected in the event the provider collapses.

whiteflag_3

so is there a problem ? as i think thats what the OP was asking - why mention the compensation when its not relevant ? Hardly reassuring is it

EdInvestor

whiteflag wrote: »

so is there a problem ?

I doubt anyone is in a position to give assurances about any financial institution at the moment.

why mention the compensation when its not relevant ?

Because surely what people want to know is IF there is a problem, they will be protected.

whiteflag_3

EdInvestor wrote: »

I doubt anyone is in a position to give assurances about any financial institution at the moment.



Because surely what people want to know is IF there is a problem, they will be protected.

but your missing the point -are ring fenced unit link funds effected if the parent goes bust ? equally are investors entitled to compensation if the same funds fall say 95% in value ?

I think you know know the answer to both questions is NO

Trying to keep it real!

GrammarPolice

whiteflag wrote: »

but your missing the point -are ring fenced unit link funds effected if the parent goes bust ? equally are investors entitled to compensation if the same funds fall say 95% in value ?

But you're missing the point - are ring fenced unit link funds affected if the parent goes bust? Equally, are investors entitled...

whiteflag wrote: »

I think you know know the answer to both questions is NO

Wahey! You started the sentence with a capital letter. Do you have any punctuation for the end?

whiteflag wrote: »

Trying to keep it real!

Trying to eliminate poor grammar from the uneducated masses!

whiteflag_3

GrammarPolice wrote: »

But you're missing the point - are ring fenced unit link funds affected if the parent goes bust? Equally, are investors entitled...



Wahey! You started the sentence with a capital letter. Do you have any punctuation for the end?



Trying to eliminate poor grammar from the uneducated masses!

Read the forum rules. Very poor show old chum:rolleyes:

purch

AIG - Pensions lost if they goi bust...

Everyone's pension will be at risk if they are allowed to go 'bust'