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If the deficit could not be covered by it's current assets the CBI may move to shut down operations and liquidate it assets. In this senario you would be making a claim under the Investor's Compensation Fund which all companies in financial services pay into.
PRSA must invest in pooled/unit linked funds only which must be able to be made liquid with in 12 months of the switch request (could be 6 months cannot remember to be certain). So it would seem that there may a compliance failure for this as wellThe difficulty that arises in this situation is that the assets in my account cannot be liquidated. The assets consist of shares in a company that is not publicly quoted and therefore there is no market for them.
It's not clear to me what if any action the CB coul dtake on this account if liquidation occurs.
PRSA must invest in pooled/unit linked funds only which must be able to be made liquid with in 12 months of the switch request (could be 6 months cannot remember to be certain). So it would seem that there may a compliance failure for this as well
PRSA must invest in pooled/unit linked funds only which must be able to be made liquid with in 12 months of the switch request (could be 6 months cannot remember to be certain). So it would seem that there may a compliance failure for this as well
However a PRSA can invest in a Pooled/unit linked fund where the provider gives a guarantee the the units will be purchased back by the PRSA fund manager within either 6 or 12 months again cant remember the correct time limit.
Sorry to ask the obvious question but are you sure that your invested in a PRSA and not a Personal Pension as the funding options you refer to would be available in a PP?
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