Monday, May 19, 2008
One of Thatcher's many legacies
Times: 100,000-plus face endowment shortfall
I have endownments with Standard Life - and feel like I am handing money over to a gambling addict - in the hope he will one day get a big win.
FSA?, Financial Ombudsman?....don't get me started!
Posted by rental john @ 06:51 PM (200 views) Add Comment
2 Comments
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1. Van Hoogstraten said...
I had an endowment with Standard Life asw ell, which grew by an average of around 2% a year over a ten year period by the time I cashed it in last year. Funnily enough (or crazily enough) I still have a pension policy with them which actually performs pretty well.
Maybe its just their endowment fund managers who are useless - a sort of sink hole for all the trainees and deadbeats Standard Life can't afford to get rid of.
2. dude said...
I've got a couple of endowments. Using a bit of nous I opted for low growth policies. One will be in surplus, the other, with 15 years to go, I'm still pretty relaxed about and although it's amber gets nearer to green every year. Endowments are ok, as long as you understand the risks and don't expect miracles. If you were led into the 10%+ growth per year view of the 80s then yes you may have a problem. But because you can't take a repayment mortgage with you there are times when an endowment is a good idea.
Now if the building socs don't force you to cash in your repayment when you move then they will be the best by far. But when I got mine you couldn't do that.