Your money was never guaranteed. Did you not read the documentation when you invested in such a fund?I wonder how safe my money is
In addition, Quinn Life is a ring fenced regulated
company meaning that the company's assets or retained profits cannot be
drawndown or transferred to any other Quinn Group company without prior
Regulator approval.
Just out of interest (& lack of knowledge), I have my pension with Quinn Life, & while I'm not concerned about the financial state of QL, what are people's thoughts on spreading your pension amongst several providers ?
Should we get into the mindset that people had with deposits, ie. spread it around ? Are there any particular advantages or disadvantages to spreading a pension around multiple providers ?
I would also be keen to know what would happen to any money I have in a Quinn Freeway Unit fund if Quinn Life was declared insolvent?
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