The British Economy

[Peckris]

While I agree with Rob - profits aren't immoral - I do think that when profits are put ahead of the public service being provided, then that leads to skewed ethics and therefore skewed practice. That's why the original Quaker banks were a success : they combined strong ethics with providing a service many people wanted - their profitability was a natural outcome.

As for insurance, one glaring abuse of business ethics is UNUM Provident, who provided crritical illness and disability policies to employed people, then found every excuse in the book to avoid paying out on them. Their dubious code of ethics has transferred to their French subsidiary ATOS Healthcare, who are currently assessing every disabled person in this country for the DWP, and finding many of them 'fit for work'; a high % of these are overturned at appeal.

So while profits per se aren't immoral, there's nothing communist or hippie-ish about wanting them to be the result of strong business ethics.

[declanwmagee]

I still have an Equitable pension which I don't pay into but keep.I have had Financial advisers on my back for years trying to get me to transfer....they can go and do one.

I just look after my own £.The internet is full of information.I love the challenge

my pension is predecimal!

The coin collection is the nearest we'll ever have to one of those, and I challenge any financial adviser to compare capital growth graphs with me! Since 2007...

I bought an endowment once and remember being shown graphs that purported to show how the market could never ever go down.

[Peter]

I've got 2 endowments.1 just got paid out £30k against £34k the other is absolute rubbish.I had a quote for £10.8k when it was meant to give me £24k in 2016.

Insurance,endowments,pensions,Financial advisers are now history.

[Peckris]

I've got 2 endowments.1 just got paid out £30k against £34k the other is absolute rubbish.I had a quote for £10.8k when it was meant to give me £24k in 2016.

Insurance,endowments,pensions,Financial advisers are now history.

Don't believe everything they tell you. I phoned FL last year about my low cost endowment (paid up halfway through term). They told me "About 9k". I asked if this included final bonus and was told that would bring it just short of £10k. Now I'm told they're sending me a cheque for £13k. And the economy is even worse than this time last year!

[Peter]

I've got 2 endowments.1 just got paid out £30k against £34k the other is absolute rubbish.I had a quote for £10.8k when it was meant to give me £24k in 2016.

Insurance,endowments,pensions,Financial advisers are now history.

Don't believe everything they tell you. I phoned FL last year about my low cost endowment (paid up halfway through term). They told me "About 9k". I asked if this included final bonus and was told that would bring it just short of £10k. Now I'm told they're sending me a cheque for £13k. And the economy is even worse than this time last year!

£3k would be a nice out on the town Peck.I have to rely on Tesco vouchers.

[Peckris]

I've got 2 endowments.1 just got paid out £30k against £34k the other is absolute rubbish.I had a quote for £10.8k when it was meant to give me £24k in 2016.

Insurance,endowments,pensions,Financial advisers are now history.

Don't believe everything they tell you. I phoned FL last year about my low cost endowment (paid up halfway through term). They told me "About 9k". I asked if this included final bonus and was told that would bring it just short of £10k. Now I'm told they're sending me a cheque for £13k. And the economy is even worse than this time last year!

£3k would be a nice out on the town Peck.I have to rely on Tesco vouchers.

Or a set of UNC Ed VII silver, lunch at The Ivy, admission to the Olympic 100 metres final, and the cab fare home! Not to mention only Tesco Finest from then on...

Edited July 26, 2012 by Peckris