Axa Sunlife

ReportInvestor

Just in case BJ messes up and we can figure out why from the nature of Axa's response.

BONJOEY

im still waiting, i will post once i have a response, they recieved my letter the 1st september , they must inform me by week 4 what the progress is, i will keep everyone updated x

Lovingitifitsabargain

Hi - I wrote to Axa and told them I wanted out - been in scheme since 2003 - paying 30 a month which ended up at 48.00 a month - anyway they offered me approx 460.00 - I told them that I wanted all my money back plus interest that I'd paid to them in the 3 years I'd been in the scheme - got a letter from them today saying they would pay me back all the money I had paid in plus 1% interest but they would be decuting 20% tax which they have to do legally. I just have to sign the form and they pay it into my account only thing that worries me is there is no settlement figure on the letter so abit iffy signing it in case I still end up with the original figure they gave me of 460.00 (or there abouts) has anyone else had this letter ?
thanks

dunstonh

if they are offering return of premiums plus 1%, then that will be what is paid. You have it in writing.

Lovingitifitsabargain

dunstonh wrote:

if they are offering return of premiums plus 1%, then that will be what is paid. You have it in writing.

So goes to show then if you do not accept first offer and demand it all back it pays off - (having said that I still do not know the final settlement figure but promise to let you know when it arrives !!):D

Lovingitifitsabargain

BONJOEY wrote:

im still waiting, i will post once i have a response, they recieved my letter the 1st september , they must inform me by week 4 what the progress is, i will keep everyone updated x

I have just received my second leeter back from them it took no more than 3 weeks to settle - I did call them first aswell - get on to them and check out my posting as I would not take the first offer and went for the whole lot and fingers crossed I may of got it

ReportInvestor

Well done Liiiab ,

What is going to be the difference between the Axa original offer of £480 and your contributions +1%?

My first reaction is that this is rather a poor offer from Axa. Why not 4% gross (3.2% net) which was probably achievable from a decent savings account, at no risk, over that time.

Lovingitifitsabargain

ReportInvestor wrote:

Well done Liiiab ,

What is going to be the difference between the Axa original offer of £480 and your contributions +1%?

I have tried working it out - I am sure I started at 30 a month but am abit miffed as to why I ended up paying 48 (maybe I started at 40) work that out over 3 years and its quite abit more than the 460 they were offering - I will let you know what I get - my luck it'll probably be a tenner ! When I wrote my 2nd letter I took advise from the previous postings and wrote to the complaints department and also attached the FSA NOTICE to the letter so as they thought I knew what I was talking about and that I meant business !!:mad:

myrtle_2

so what should I put in my letter then do you think?

ReportInvestor

Be patient!

But in the meantime you might get a copy of Liiiab's letters that you could use as a template, before personalising it. The FSA notice was a very nice touch .

I'm canvassing experienced opinions elsewhere about whether it's worth going for more than 1% interest & will report back early next week. [I still personally think 3-4% is more appropriate & equitable.]