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Protection for AVCs
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bugsy01
Posts: 2 Newbie
I am currently contributing AVCs into the Prudential deposit fund. With all the current financial shenanigans in the financial markets does anyone know what level of protection is offered in the event of problems at Prudential?
e.g. is it only covered upto £50K or inded is it not covered at all?
e.g. is it only covered upto £50K or inded is it not covered at all?
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Comments
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The first £2000 is covered 100%. Over £2000 is covered up to 90% but there is no limit to the value. So for example you have £100k then you would be covered for £2000 + (£98,000 x 90%) £88,200 = £90,200.I work for an IFA and can provide guidance on pensions, savings, protection and investments. What guidance I do provide should not be taken as advice. If you are in any doubt I suggest you speak to your financial advisor or, if tax related, a qualified accountant.0
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Of course the value will fluctuate depending on what funds the money is invested in.Trying to keep it simple...
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