Standard life maturing May

fox63

SL Mortgage Endowment Promise
When your plan matures we will check whether it passes what we call the 6% a year test. Your plan will only pass this test if the assets backing your plan earn on average at least 6% a year (after tax) from the 28th September 2000 to the date your plan matures.
Next it says, However we think it is unlikely that you will receive any MEP payment, it seems unlikely that MEP plans will pass the 6% test.
Thought I would share this with you, so much for the old promise.

fox63

In 2000 I had a letter from SL, it said, Your plan update shows that your plan is currently on track to pay the target amount, As your plan requires earnings of less than 6% each year you do not need the promise.