How can I trace money I invested years ago?

Bea1_2

This is going to sound really odd but please bare with me.

Back in 1986 I took out a monthly savings plan with Allied Dunbar. I was saving about £45 per month and it was supposed to provide a small lump sum 8 years later.

I only ever paid into it for about a year. I notified the advisor that I had dealt with at the time that I would need to put it on hold and stop making payments as I was going abroad. In 1987 I moved abroad for the next 10 years and completely forgot about it... In fact I've only just remembered recently... but searching through some old files I can't find any paperwork at all that refers to it, although I do recall I never made contact with them when the 8 year period was up.

I had heard -not sure if it's true - that there is an organisation somewhere that holds information about unclaimed monies and wondered if anyone here knows about it?

As it's 20 years ago since this all happened and my life has been a bit busy since then, I wanted to check this out first before contacting Allied Dunbar directly as I understand they were taken over by Zurich and I've no idea if they would still hold my records. Besides which, I have nothing to give them but my name and address of where I was in 1986...

Any suggestions would be most appreciated

dunstonh

Back in 1986 I took out a monthly savings plan with Allied Dunbar. I was saving about £45 per month and it was supposed to provide a small lump sum 8 years later.

I doubt it would have been 8 years. The plan would have had to have a minimum of 10 years to make it qualifying.

I only ever paid into it for about a year.

Thats your problem.

Any suggestions would be most appreciated

Forget it. The first 12-18 months payments on a 10 year plan would have gone in charges and if you surrendered in the first 3-5 years, the penalty would have wiped out the value.

The policy would have lapsed without value after just 12 months.

Bea1_2

dunstonh wrote: »

I doubt it would have been 8 years. The plan would have had to have a minimum of 10 years to make it qualifying.

I seem to recall it being 8 years.



Thats your problem.

I know that!

Thank you for your reply.

dunstonh

I seem to recall it being 8 years.

To qualify under tax rules the policies have to be set up with a minimum term of 10 years. You can surrender after 7.5 years and avoid the tax liability as it qualifies after that point but the plan itself has to be set up with 10 years a minimum. It is possible that is where you got 8 years from as that would be the point it could be taken without tax liability.