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· Registered
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Discussion Starter · #1 ·
Hi all,

My husband and I have taken out a FPIL 25 year pension plan (yes we know they are a bad idea), we have realised this after about 8 months in and wanted to know if anyone else knows of people who have managed to surrender the policy less than a year in. We know this will mean losing everything put in but we think in the long run this will be less of a loss than what we could stand to lose with fees etc over time.

We have been very confused by the Ts and Cs as it sounds like we would still need to pay charges for a period of time but are unclear. The financial adviser we will be seeing will obviously be trying to keep us and will say anything to do so which is why we would like any advice from anyone who has done this or knows someone who has. I am awaiting a call from a different advisor but as it is a Sunday in the US (where he is calling from) I doubt that I'll hear from him today.

· Super Moderator
Originally from UK but lived in many countries
7,253 Posts
If you stop paying in now - you are very unlikely to get anything back of what you have already paid.
Whoever sold you the policy will be mad with you as they may lose some of the hefty commission that they have already been paid - which is why they will do everything to persuade you to keep paying!
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