BANKS AND PENSION COMPANIES TAKING ADVANTAGE OF PILOTS

[Celtic Frog]

I started a project a few years ago, placed it on the shelf, but have been prompted to apply a bit more research.
It has come to my notice that certain banks or investment companies have been taking advantage of people who move around a lot (including aircrews) to apply a plan which effectively (and illegally) rips them off thousands of pounds.
It would perhaps be libelous to mention names on this website, but if it has happened to you or anyone you know, please at least tell the information here.
I'm particularly interested in Mortgage / pension / endowment scheme rip-offs.
(especially interested in companies beginning with the letter "A" or "S" )

[P.Pilcher]

Well, any insurance company will rip you off if you give them an excuse. If you enter a scheme promising to pay so much a month and then default because of job changing circumstances, then it's an "open sesame" for them. My pension provider starts with an S. I have a scheme in which I can bung some money when I want to and it has built up eratically over the years. They are always writing to tell me that they are the best pension provider in the business and I am sure that when I reach retirement age I will collect a paltry sum from them with which I can buy an annuity.

I stopped investing with them years ago and acquired property instead. ....... Oops!!! shouldn't have told you that!

[CPair]

And you can bet they will have gotten their hefty management fees all along no matter what sort of return (if any) they have provided

[P.Pilcher]

But of course!

[CPair]

There's sure not a lot of good options left except property!!!