Act now on mis-sold endowments: new article

Art_2

dunstonh wrote:

About 85,000 in the UK have been hit with failed pensions. (BBC figures last week). Out of population of 60 million.

Isn't this figure for failed company pension schemes only? I don't think it includes pension losses suffered directly from insurance companies such as Equitable Life.

Regards,
Art.

mayb_2

Is 60 million the population or the working population?

TrikerAndBiker

dunstonh wrote:

So you can remember it was mis-sold but you cant remember anything else?



Its partly to find out if you are telling the truth. It is also there to see if the information recorded at the time is accurate. So, it can work against you and for you. Tell the truth and state you cant remember if you cannot. However, dont say that too much as that could work against you. Dont lie though. If you are caught giving false information that can work against you in grey areas where it is your word vs the adviser.

You actually have a very strong case as this is classed as a pre-sale endowment and virtually all of these are upheld. So, just do what is needed and you should get the complaint upheld.

I was only joking about the not remembering things from last month let alone 17 years ago. I do remember a fair amount of what they are asking and I will, of course complete the form to the best of my knowledge.

My then husband and I were only 22 when we took the endowment out but were trying to think ahead to when we would need to actually purchase a property (he was in the RAF at the time so we were living in married quarters) We certainly did not have a pot of money to flitter away but when the IFA told us that we were building up the capital to repay our future mortgage (and luckily enough I kept the letter that he wrote after his visit in which he stated this again) then we thought we were doing the right thing.

Well I know what I shall be doing tomorrow.

And thank you for your advice :beer:

Art_2

mayb wrote:

Is 60 million the population or the working population?

60 million is the total population of the whole of the UK.
Of this figure 11.6 million are under 15 and a further 9.6 million are over 65. This leaves 38.8 million approx of working age. Some of the latter group will not be working due to unemployment, disability etc which takes the figure nearer to 35 million.

Hope this helps.

Regards,
Art.

dunstonh

Not so funny if you happen to be one of them dunstonh

No-ones laughing.

and many people wont know yet how their pensions will turn out - not up to expectations probably isn't classed as failed.

And no doubt they will want to blame someone else because they didnt keep an eye on their own financial affairs.

There are many people who have not pension at all simply because they can't afford one.

Yes. They are too busy paying Sky and eating takeaways.

I am not convinced by any of the responses you made to my post about buy to lets dunstonh they were a bit contrived as I am sure you are aware.

Its not a subject you know much about though so it doesnt surprise me.

mayb_2

dunstonh I probably know as much about some things as you do and probably more about some others - I am not trying to convince anyone else and am happy for you not to agree with me.

If you join a company pension scheme it is not likely that you will be able to
keep an eye on it. You are not laughing but you are sure it is their own fault if their pension schemes fail?

I doubt if you meet many people unable to pay into a pension in your line of business and perhaps know little about them and their finances - it appears to be beyond your imagination that some people could be that poor. I could go on but there seems little point.

Katy_W

HI

Can anyone help. I have an endowment with the Norwich Union which will not pay the full amount. I bought the policy in November 1987 from a company that was disolved in April 1989. Does anyone know who to go to next for any help for compensation.

Thanks

dunstonh

Does anyone know who to go to next for any help for compensation.

The FSCS wasnt introduced until Aug 1988 and only covers business written after that. So, your policy isnt covered under any of the regulatory bodies meaning you have no-one to complain to.

skyrocket

We had an endowment mortgage which was missold. We sold it a few years ago. Could we still claim?

debsandhovis

Hi
Recently put in a complaint about my Scot Amicable (Prudential) endowment taken out via IFA in 1993. I have a letter from Prudential telling me that my deadline to complain is 12/05/07. Yet the firm (Sesame) who have investigated my complaint have told me I am out of time, so have thrown my complaint out. They have said I could complain to the Financial Ombudsman Service so I asked for all my original supporting documentation (ie original letter brochures etc to support my case) but they say they got rid of them. Argghh. Anyone please with any ideas/help I would love to hear it. Thank you. Debs