A
ankles
Guest
Hello,
I'm looking for some advice on behalf of my parents. They started a pension fund 19 years ago. This is now loosing money; the company in question continues to write to them asking them to up their contributions.
My mother is very upset about this, and feels she is not getting a fair deal, if they were to cash it in now they would loose money. 19 years ago someone came to the house and sold them the package, told them it would be a managed fund. From what I could see this has been loosing money for several years, so I don't think this is being managed very well.
I have a suspicion that there is something else going on here, there are details in the brochures that when the pension enters stage 3 (19 - 30 years) that if it drops by X% that the company do not have to pay out.
I'm a bit worried that they are going to lose out on this money. 19 years ago they were not very well up on all this.
Any advice would be greatly appreciated
I'm looking for some advice on behalf of my parents. They started a pension fund 19 years ago. This is now loosing money; the company in question continues to write to them asking them to up their contributions.
My mother is very upset about this, and feels she is not getting a fair deal, if they were to cash it in now they would loose money. 19 years ago someone came to the house and sold them the package, told them it would be a managed fund. From what I could see this has been loosing money for several years, so I don't think this is being managed very well.
I have a suspicion that there is something else going on here, there are details in the brochures that when the pension enters stage 3 (19 - 30 years) that if it drops by X% that the company do not have to pay out.
I'm a bit worried that they are going to lose out on this money. 19 years ago they were not very well up on all this.
Any advice would be greatly appreciated