Pearl Investment Plan

laney365

Can anyone give me any advice about the current state of play with a Pearl Investment Plan taken out in 2001 please? My mother is 87 and reliant on this income but the papers seem full of doom and gloom. Is her money safe and earning well? Is there a better place for her money to be invested? The capital is down to about £30000 and she takes a payment twice a year.

I'm lost when it comes to this type of investment but its my responsibility to look after her as well as possible.
Many thanks

dunstonh

My mother is 87 and reliant on this income but the papers seem full of doom and gloom.

Media is always full of doom and gloom. Good news doesnt sell papers.

Is her money safe and earning well?

Its safe as it falls under insurance FSCS protection which is 100% of first £2000 and 90% of the rest with no upper limit. However, its not earning well and hasnt since Pearl closed down for new business back in 2002/3.

Is there a better place for her money to be invested?

yes. However, what they will be will depend on her circumstances. She also has tax and potentially local authority care means test considerations to think of which may mean those things take priority over rate of return. There is also her age. Is she really going to want to be investing at age 87?

laney365

Thank you. She doesn't have those worries but I'd like to know if there is someone who offers this type of plan with a better return

dunstonh

Yes there are. Pearl's is obsolete. However, there is no one-size-fits-all option. So, cant say who will be best.