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Prudential Investment Bond

flyingplaneno6
Posts: 1 Newbie
My wife and I, both retired, invested in a Prudential Investment Bond a few years ago as a "back-up" savings plan for when we needed it. We haven't drawn on it at any time but to our dismay we have just received our annual statement which showed a value of £24000 against a last-year value of £26000. A loss to us of £2000 is a lot of money to lose and whilst we never expected any gain this year because of the economic situation we never expected Prudential to lose us this amaount.
A call to Prudential was wasted telephone time even when we pointed out that last year's £26000 in a Building Society would, at the very least, still be £26000 today.
We feel very ill used by this particularly because we were advised, at the time, to take this investment as a "safe, long-term savings plan".
Any comments, please? Any advice, please?
A call to Prudential was wasted telephone time even when we pointed out that last year's £26000 in a Building Society would, at the very least, still be £26000 today.
We feel very ill used by this particularly because we were advised, at the time, to take this investment as a "safe, long-term savings plan".
Any comments, please? Any advice, please?
0
Comments
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how much did you initially invest ?
why are you in an investment bond if you wanted a savings plan ?0 -
We haven't drawn on it at any time but to our dismay we have just received our annual statement which showed a value of £24000 against a last-year value of £26000.A call to Prudential was wasted telephone time even when we pointed out that last year's £26000 in a Building Society would, at the very least, still be £26000 today.We feel very ill used by this particularly because we were advised, at the time, to take this investment as a "safe, long-term savings plan".Any comments, please? Any advice, please?
You have seen the investment grow quicker than a building society in the early period but fall back during last years major decline but its still worth more than you put in. I have a few of these on my books and the 10% drop is consistent with those. However, they are all beating cash rates still and there is nothing that suggests pulling out is a good idea.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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