Norwich Union - Reattribution

alared

dunstonh wrote: »

Another incorrect assumption. The growth rates on illustrations and projections are set by the FSA. These figures are actually quite realistic and tend to reflect the performance you would expect over the long term.

The figures are based on PAST performance,not future.
Also they are based on ASSUMING a growth of X amount.

If they were fair and honest they would also give a figure assuming NEGATIVE growth (loss) of X amount.
But of course that wouldn`t be too inviting for investors.

dunstonh

The figures are based on PAST performance,not future.

And what is the future performance going to be then?

Also they are based on ASSUMING a growth of X amount.

Actually they are presented using x, y & z most of the time. Giving three examples. Can you give a better way of doing it?

If they were fair and honest they would also give a figure assuming NEGATIVE growth (loss) of X amount.

A loss is unlikely over the long term. Short and medium term possibly but long term is not likely. Even endowments managed to turn in profits and we know how much you hate them.

But of course that wouldn`t be too inviting for investors.

So the risk warnings that go with the projections that state that they are just examples and you could get back more or less and that the value of your money can go down as well as up are not sufficient?

hilton

As a NU policy holder I am following this story with intrest. As a layman with not much financial acumen I was looking forward to the payouts. A nice lady wrote last year and told me that if I looked under my pillow in the spring 2009 I would be recieving my first little nest egg.Then looking in my newspaper this morning I learnt that that the wicked snow queen tells me that this offer has gone t*ts up.It would appear that the people who told me lies about my endowerment years ago have gone back to telling me lies about that couple of billion pounds floating around in the slush fund.Now it would seem that there is not alot I can do about this so you you may ask why am I replying to this article,well if anyone wants my opion its that ALL financial institutions ,banks,insurance companies are lying B******S unless you are utterly compelled to so leave well alone.

coolchris

Never mind all this bikering. All most people affected by this want to know is...when will they get their finger out of their collective !!!!!! and deliver. Will it actually be this year? Will we ever see anything? I for one am totally !!!!ed off with these greedy fat bottomed pricks.

alared

This is exactly what I`ve been saying all the time.
NU came up with the idea to get their grubby little hands of the lion`s share of the "orphan fund", which it has had sloshing around for years, and no doubt making money out of.
So far it`s taken four years and to date we are still no nearer getting a cash payment.
That in a nutshell is the plain facts.

missile

As I understand it this inherited estate has built up over many years by sound investment strategy by NU fund managers. This pre-dates my own investment in NU, so I have very little grounds for complaint.

It is extremely disappointing that NU failed to meet their schedule. I do not have sufficient info to judge who is responsible for the delays. However, I have seen very little evidence that Ms Spottiswood has done much to earn her fat fee. All of her communications seem to mirror info issued previously by NU.

alared

Here is a recap about it all from an article dated 21 November 2006:

http://news.bbc.co.uk/1/hi/business/6168768.stm


If all the money were given to the 1.1 million eligible policyholders they would receive just under £3,000 each. However, the eventual offer to them is likely to be much less, possibly just a few hundred pounds each.

Those people who accept the deal will receive their windfall sometime in early 2008.

oldwiring

Just had an email with a recording of CS being interviewed on BBC Money Box.
http://www.policyholderadvocate.org/de-register?user=d340915833
I wonder if some editing has taken place, as I seemed to detect some * pauses *.
I;ll have to get on to the BEEB's Listen Again. Or may ne I'm going doolally.

alared

Freefall: Millions of with-profits savers have no option but to watch their money dwindle

Millions of savers with endowments and pensions have seen their investments go into freefall. Payouts on plans maturing now are up to a fifth less than a year ago, wiping thousands of pounds off the value of a typical policy.

http://www.dailymail.co.uk/money/article-1154703/Freefall-Millions-profits-savers-option-watch-money-dwindle.html

dunstonh

Millions of savers with endowments and pensions have seen their investments go into freefall. Payouts on plans maturing now are up to a fifth less than a year ago, wiping thousands of pounds off the value of a typical policy.

They are not savers but investors (the article switches between both terms throughout). Investments can go down as well as up. Why were they not writing articles like this covering the reverse situation in the growth years when maturities were increasing? Because of course, bad news sells and they are pandering to the constantly negative individuals who still read them and havent got the ability to understand things for themselves.

To expect them to only go up suggests a lack of common sense.

There are mistakes in the article as well which suggests it was written by someone who doesnt know the subject.