Endowment final figure mis-quoted

Paulsbag

Hi , i only have 2 months left to run on my plan . the plan needed to achieve £33,750 . i made arrangements to change the morgage to part and part so i worse case i would need the plan to make £25k. In june last year i phoned Prudential to see how it was doing and to my supprise i was told its in green and it will make the £33,750 or pretty close. i have just phoned again and its only £27,300. I complained as i would expect a drop from June 17 to now but not such a large amount. it has been investigated and they are admitting fault of giving me the wrong figure after listening to recordings. they have offered £500 in compensation. what next steps should i take if any. your advice would be appreciated.

dunstonh

You have no legal right to money from a mistake. Plenty of cases have gone to the FOS on that basis and none succeed as errors can work both ways and an error does not give legal entitlement. I have seen far worse cases over the years (including 6 digits) and they only got £400 and that person had already moved house, given up their job and retired on the basis of the wrong figure.

£500 is an excellent level of compensation for this error. You should be very pleased with that.

Paulsbag

Thank you , was offered £400 first and i just went " mmmmm " came back in 2 minutes with £500.