BalloonMan
Registered User
- Messages
- 12
I recently started banking with standard chartered and part of the sales pitch I received after signing up was to invest in a scheme run with one of their partners - Prudential Insurance.
This seems to have some layer of life insurance built into it.
One needs to invest X amount per month every month for 5 years, then leave that amount to accumulate. If you want to cash out after 5 years, the min guarantee is £35160 with the expectation at £45968.
The main attraction of these (at least according to the SC advisor) is that you are using a part of your money that will not affect your liquidity, as the real benefits of the scheme are seen in later years (you only deposit for 5). After 10 years the min guaranteed value is £41121 with an expectation of £75824.
Expectation for Year 11 is £81664, 12 is £89743 and year 15 is £112854.
Does anybody know much about this scheme (or similar), what the risk classification would be and also how it compares to more regular pension schemes?
Thanks.
This seems to have some layer of life insurance built into it.
One needs to invest X amount per month every month for 5 years, then leave that amount to accumulate. If you want to cash out after 5 years, the min guarantee is £35160 with the expectation at £45968.
The main attraction of these (at least according to the SC advisor) is that you are using a part of your money that will not affect your liquidity, as the real benefits of the scheme are seen in later years (you only deposit for 5). After 10 years the min guaranteed value is £41121 with an expectation of £75824.
Expectation for Year 11 is £81664, 12 is £89743 and year 15 is £112854.
Does anybody know much about this scheme (or similar), what the risk classification would be and also how it compares to more regular pension schemes?
Thanks.
