AXA Sun Life

Jan 27, 2006 1 Replies
20 years ago, upon leaving a large UK company, my company pension transfer value was put into a Sun Life T plan section 32 transfer. This is now AXA Sun Life. I was not consulted and was told there was no choice in the matter: it had to be Sun Life.

Now the fund's performance is not good, and who knows, if I had had a choice in 1985 I might have chosen something better. In 2004, out of the blue, no bonuses were declared, and I am now told that AXA Sun Life no longer deal in with profits pensions, so these funds are now closed to new business - hence the poor performance.



Now, with about 6 years to maturation, it is a bit late to do anything about this. You cannot add to these policies and a new one will not have time to make up the short fall.



What does one do? Is there a case for miss-selling 20years ago? I have found out that Sun Life had an office nearby to the head office of my ex-employer. Could one be smelling a rat here?



Does anyone else sit in a similar position?



I don't know the answer to this. I suggest you consult an IFA.

M

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