Need some help understanding an old with profits pension

minnie29

Well I have an update....
The guaranteed Minimum Fund £12,329.48 is potentially never going to change as RLCIS have not paid any annual bonus since 2003 and is unlikely to in the future and does not pay Final bonus.
The Transfer Value £21,568.09 is actually my fund value and this is the amount that I would get.
The reason for the difference is some vaguely described entitlement to a share of the profits, still don't understand this.
No fees would be taken if I wanted to transfer to another provider.
I have asked for all this to be put in writing to me before I make a decision but can anyone give an opinion on ever coming across this before? Thank you

minnie29

Sorry a bit more Info..
The following transfer values for the last 3 Years
2012. £18285,84
2013. £19752,15
2014. £21568.09
The total amount invested in the policy was £3892.48 between 1987 and 1991 and were rebate payments from the government.
So the transfer/policy value is going up each year, so may be that I would get this amount?

xylophone

The reason for the difference is some vaguely described entitlement to a share of the profits, still don't understand this.

Then make sure that you get a clear explanation in writing from RL.

The guaranteed Minimum Fund £12,329.48 is potentially never going to change as RLCIS have not paid any annual bonus since 2003

And yet according to your first post there was a bonus attaching for 2013 added in 2014?

This seems to accord with the information in here http://www.royallondongroup.co.uk/Documents/Coop/pdf/endowments-with-profit-policy.pdf

You might try a pm to Your Hero for his comments?

https://forums.moneysavingexpert.com/discussion/5101466

minnie29

yes I have asked for everything In writing, and the attaching bonus has been the same since 2003 apparantly What I got told today it is only the pension with profit funds that have not and will potentially not get yearly or final bonus, again have asked for all this to be confirmed in writing, informed this will take 10 to 14 working days, so will wait and see, Thank you