Home | Links | Contact Us | Press | Post a job | Bookmark
Search Available Jobs:
Home Latest press releases Up-to-4-million-at-risk-from-endowment-trap


 Regional Vice President - Wholesale
Make a strategic move and join the 3rd fastest growing Mortgage Lender in the country! Mortgage L...


 VP of Program Delivery
American Traffic Solutions, Inc. is a leading provider of technology and business solutions that ...


 Assistant Store Manager - Chandler, AZ
Job Title: Assistant Store Manager - Chandler, AZ to join our ever-growing company. Job ...


 Executive Pest Control Manager
Job Purpose: Directing dynamic growth in our pest control division through implementation of ...


 Corporate Development Director
Go Daddy is a leading provider of services that enable individuals and businesses to establish, ...


 Director of Sales - Western Region
Overview: This position will report directly to the President. The Director role will play a ...


 District Executive
About our Organization:   The Boy Scouts of America has been the nation?s largest and ...


 Area Supervisor
Job Description Major Responsibilities: -Supervise, coordinate and control the safe and ...


 Senior Territory Sales Manager
PepsiAmericas, a Fortune 500 company and the second-largest anchor bottler for Pepsi-Cola, is ...


 Production Leader - Ft. Smith
For quick consideration apply here Major Position Roles and Responsibilities(2nd shift): ?? Active ...


 Up to 4 million at risk' from endowment trap

Up to 4 million homeowners may be at risk of having their endowment mortgage policies pay out too little to repay their loans, according to figures circulating in the investment industry.

About 40 per cent of the estimated 10 million people with endowments are said to be receiving letters from insurers warning of shortfalls.

The Association of British Insurers described the figures as 'speculative'. Nevertheless, Jane Whittles, the industry Ombudsman dealing with endowment complaints, is now so concerned that she is drafting guidance to companies about how to deal with compensation claims.

The aim is to force the firms to speed up the compensation procedure.

Whittle will tell companies the sort of cases in which they will be expected to pay com pensation, rather than pass them virtually automatically to her.

The Financial Ombudsman Service will ask firms to compare an endowment's performance with that of a repayment mortgage over the same period, and pay the customer the difference.

Several types of borrower are likely to be eligible, including those with no knowledge of the stock market, people sold an endowment close to retirement and purchasers of council homes under the right-to-buy scheme

However, compensation will not be automatic. A forecast shortfall alone will not be grounds for compensation unless the policyholder was misled.

Homeowners concerned about their endowments should continue to complain directly to whoever sold it.


Related jobs
  NEEDED: BASIC MANUFACTURING SKILLS TO HELP US GROW! MAKE UP TO $40K - $100K+ A MONTH!
Want to Create an Extra Income Stream?Do You Have Basic Manufacturing and Production Skills??Put your Skills to use and make up to $24k+ a MONTH!! I will get straight ...
  Manufacturing Support
General Dynamics Land Systems (GDLS), headquartered in Sterling Heights, Michigan, is a wholly owned subsidiary of General Dynamics Corporation (NYSE: GD) headquartered ...
  Helper General Eastern Division
Description: Helper - Line Crew Positions will be filled in the Eastern Division in the following locations: Anniston, Jacksonville, Heflin, Roanoke, Ashland, Sylacauga, ...
  Maintenance-Production Supervisor-Brierfield
  Business is booming at Chemical Lime Company, and so are your opportunities. We are looking for people to grow with us.   Chemical Lime Company is a ...
  Quality Engineer
Responsible for manufacturing floor quality systems.  Participate in continuous improvement projects.  Communicate with customers.  Review and respond to ...
  Warehouse Manager
If you are looking to advance your career with a company that provides an environment where all associates have the freedom and encouragement to reach beyond the ...
  Machine and Overhead Crane Operators
Will run and maintain equipment as assigned for this first or second shift position.  Must have prior experience with machine operation, heavy duty forklift or hand ...
  Data Processing Manager
A direct mail firm with an exciting culture on the forefront of technology is looking for a Data Processing Technical Manager.   You would be responsible for the ...
  Injection Molding Machine Setter- Opelika AL
Position: INJECTION MOLDING MACHINE SETTER Business Area: Gambro Plant Opelika Division: Dialyzer Division Reports to: Production Supervisor, Opelika   B...
  Lean Specialist
Company Description: A premier automotive supplier with multiple plants across North America is searching for Lean Specialists for their plant in Alabama.  The ...

Related press releases
20 years of rules - still no security
Regulation of financial services appears to have left us no better off than in the Eighties, when we had to queue to get a mortgage, a stockbroker's word was his bond and...
Lender told to pay out
Consumer groups this week warned Cheltenham & Gloucester to compensate customers denied access to cheaper mortgages or face a deluge of claims to the main financial w...
Confusion over Abbey interest rates
Q I had a mortgage with the Abbey fixed at 6.55% from 1998-2003 with a further lock-in period until 2005. They allowed a slight concession on the escape fee but I still p...
What has affected my credit rating?
Q As a professional with a good salary, I was recently horrified to be refused credit when buying a computer. Earlier this year I was served a bailiff's notice for one mo...
Inflation falls to record low
A chastened City was last night forced to abandon predictions of an imminent rise in interest rates after supermarket price wars and cheaper petrol sent the government's ...
Bank deputy governor voted for rate rise
The Bank of England's monetary policy committee (MPC) voted 7-1 to leave interest rates unchanged in June because of the still uncertain economic outlook, Bank minutes di...
Rates question foxes Square Mile hawks
Last week it looked like a no-brainer. Interest rates were not just going up, they were going up at the next meeting of the monetary policy committee in early July. Soari...
Inflation falls by 0.5%
Britain's underlying rate of inflation in May fell 0.5% to 1.8%, its lowest level since January 2001, official figures showed today. It was the sharpest month on month f...
C&G borrowers in line for compensation
Hundreds of borrowers could be in line for compensation payments after Cheltenham & Gloucester today announced that it did not plan to challenge an ombudsman's ruling ove...
Financing a place - or two - in the sun
Ian and Sandie Schagen Ages: Ian 55, Sandie 54 Live in: Langley Occupation: Ian: statistician, Sandie: researcher Earn: ?70,000+ combined Mortgage: ?75,000 Debt...
0.534

Archive: All jobs - Links

Copyright (c)2006 Efbf.org/jobs - All rights reserved