Scottish widows pension rip off?

Scottish widows pension rip off?

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tight fart

Original Poster:

2,925 posts

274 months

Wednesday 25th May 2016
quotequote all
Am I being ripped off by Scottish widows or is this normal now?

I took a commercial mortgage out around 1992, Barclays suggested I have a pension linked mortgage (insisted)
This was supposed to clear the mortgage of £50k in 2020 and also give me a small pension.

Realising it was going the same way as endowment mortgages I changed the mortgage some time later but kept te pension going,

The pension is a with profits, and every year I get an annual statement telling me how good they are doing, since
2010 the with profit fund should have grown by around 50% (6 years compound interest)

They stopped applying any to mine around 15 years ago and I don't receive any bonuses now?

I've complained till I'm blue in the face and never get a straight answer,

Anybody know who I can ask to get to the bottom of it?

tight fart

Original Poster:

2,925 posts

274 months

Wednesday 25th May 2016
quotequote all
It's on the back of my bonus notice.


tight fart

Original Poster:

2,925 posts

274 months

Wednesday 25th May 2016
quotequote all
They told me a few years back, as it was a guaranteed min annuity of 9% they wouldn't add any bonuses.
Trying to read through some of the paperwork in this years bonus notice states "policies started before Feb 1999
will not get regular bonuses as they have higher guarantees".