CIS FAVCs

moiras_2

Was anyone else sold free standing AVCs by CIS some years ago and lost ou big time? I paid £25 a month for well over 10 years and my Annual sum is only just over £33. Is there anything I can do about this huge bad management of the fund?

dunstonh

Was anyone else sold free standing AVCs by CIS some years ago and lost ou big time?

I doubt it.

I paid £25 a month for well over 10 years and my Annual sum is only just over £33.

Figures dont add up. Can you post the fund value, the tax free cash amount and the annual income terms?

Is there anything I can do about this huge bad management of the fund?

Lets see if there is an issue first. Personally, I suspect a mistake but the figures will verify it.

moiras_2

I used to get annual letters about the fund and I remember that one year the pot was about £5500 but the following year it was only £1200 and the accompanying leaflet said something about falls in the stockmarket

dunstonh

moiras wrote: »

I used to get annual letters about the fund and I remember that one year the pot was about £5500 but the following year it was only £1200 and the accompanying leaflet said something about falls in the stockmarket

The stockmarket has not fallen by that degree. There was a 43% drop in the early part of the millennium but went on to recover over the 5 years that followed. The credit crunch and global recession saw a similar sized drop but has since gone to recover around 2/3rds of it. So, there has been no drop of that scale on any mainstream investment. Only a few specialist investment areas (like tech stocks) saw drops of that scale.

Give us some facts. like current value, start date, last date of contribution, contribution amount, investment fund etc.