More on Skandia

I have held a EIB since 2001. At no time was I made aware of the inherent risks related to these cash accounts, either by Skandia or the IFA. After living abroad for many years I have retired back in the UK.

What I find very disappointing is that when I had issues with a particular fund I received a letter from Skandia to my UK address advising me of the situation, then it was my and IFA's call as to the next step. More recently I received also from Skandia approximately 4 weeks before they were taking over by Santander that there ratings were reduced by Moody's. This allowed me the same day to move my funds out of BB and into another bank, so far so good.

I knew I had funds with Singer Friedlander, but did not know they were owned by Kaupthing, I also did not receive any notification from Skandia of the concerns over KSF prior to the melt down. However two weeks ago I called Skandia and asked why they did not send out an alert letter, they said they had and apologised as I had not received. Then a few days later I received a letter from Skandia summarising there concerns over KSF. To little and way to late.
Did any of the other Skandia affected policy holders also receive a letter, not sure where we go from here but just hope the UK Govt do the decent thing.

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