Tuesday, February 6, 2007

FSA warnings on shortfalls

The FSA has encouraged consumers facing endowments shortfall to "act now"

The poor performance of the stock market over recent years has seriously affected many mortgage endowment policies. On 15 July 2005, the Financial Services Authority (FSA) published Mortgage endowments - shortfalls and consumer action setting out the findings of its research on households with endowment linked mortgages.

Posted by converted lurker @ 02:43 PM (444 views)
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2 thoughts on “FSA warnings on shortfalls

  • Cheekie Charlie says:

    That’s odd! There I was thinking the stock market had performed well over the past few years. You wouldn’t think it though over the derisory bonuses I’ve recieved from the prudential over the past decade. I wouldn’t trust these shisters as far as I could throw them they all p*ss in the same bucket. Thank god I don’t have a pension with them!

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  • Same applies to Standard Life, I have kept a little endowment ticking along since 1987 which has up to now only grossed 4% P.A.

    In other words the money would have been better off in a bog-standard regular savings account rather than in the hands of so called fund managers.

    The same applies to their appaling Pension Scheme that I paid into briefly until I sacked that off as a bad idea, I could have put the money in a shoe box under the bed for 5 years then taken the box out and burn’t a third of it for kicks and been no worse off.

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