削減（する） and run now

By James Hopegood
Updated: 00:00 BST, 19 February 2004

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THE FUTURE for with-利益（をあげる）s 社債 savers with nine of the UK's best known 保険会社s is so grim that they are 存在 勧めるd to take their money どこかよそで.

If your 貯金 are with Abbey 国家の Life, Britannic 保証／確信, Eagle 星／主役にする, Friends Provident, NPI, 王室の & Sun-同盟, Scottish 相互の, Scottish Provident and Winterthur Life you should take their money and run, によれば 独立した・無所属 財政上の 助言者 John Scott & Partners.

The advice comes even though savers can 直面する 早期に 出口 刑罰，罰則s of 20% or more for doing so.

Patrick Connolly, a director at John Scott & Partners, argues that these companies have so little money 投資するd in 株 that there is no real prospect for decent growth on savers' money.

The prospect of little or no growth going 今後 is a 鎮圧するing blow for the hundreds of thousands of おもに 年輩の savers who have often taken out with-利益（をあげる）s 社債s to 補足（する） their 年金 incomes.

The 研究 shows that savers who took out 社債s with NPI before 2000 are in a with-利益（をあげる）s 基金 持つ／拘留するing no 株 どれでも, while those at Abbey 国家の Life, Scottish 相互の and Scottish Provident - all of which are owned by Abbey bank - have had no 特別手当s 追加するd for the past year.

Mr Connolly says: 'Unless there is an escape 大勝する coming up, such as 刑罰，罰則-解放する／自由な 撤退 dates or 成熟, I would argue people should bite the 弾丸 now rather than have another few years of poor 業績／成果.'

Seven of the nine companies that the 調査する reckons have little 未来 often let savers out at no 刑罰，罰則s on 始める，決める dates - savers need to check their individual 計画（する）s' small print to check when these are. Friends Provident and Winterthur Life do not have these escape 条項s.

The 調査する of 20 companies looks at how they are 率d by 分析家 基準 & Poor's along with a 決裂／故障 of the 資産s held in their with-利益（をあげる）s 基金s.

Companies are 率d at between one and four 星／主役にするs. Not a 選び出す／独身 company qualifies for a four-星／主役にする 率ing. Only four companies, Clerical 医療の, 合法的な & General, Norwich Union and Prudential, get three 星／主役にするs, meaning it's 承認する to stay put.

Savers with companies given two 星／主役にするs are 存在 勧めるd t o watch what happens in their with-利益（をあげる）s 基金s very carefully. Mr Connolly says: 'These companies 潜在的に could do better in the 未来.'

The companies on this 名簿（に載せる）／表（にあげる） are: Axa Sun Life, Liverpool Victoria, MGM 保証／確信, Scottish Equitable, Scottish Friendly, Scottish 未亡人s and 基準 Life.

基準 Life gets two 星／主役にするs thanks to the review into whether it should continue to be owned by its members or should be taken over or floated on the 株式市場.

? JACK HUGHES cannot get out of his with-利益（をあげる）s 社債s without 刑罰，罰則 for at least another four years. In 1998 retired hotelier Mr Hughes, 68 (pictured above with wife Josie, 66), was advised to take out with-利益（をあげる）s 社債s with Axa Sun Life, Norwich Union, NPI, Scottish Equitable and Scottish 未亡人s.

He says he told his 財政上の 助言者 he 手配中の，お尋ね者 to get the money 支援する after five years, yet he is still 罠にかける by 早期に 出口 刑罰，罰則s. NPI, Scottish Equitable and Scottish 未亡人s will let them out at no 刑罰，罰則 on the tenth 周年記念日 of taking out their 社債s. Axa Sun Life and Norwich Union will 攻撃する，衝突する them with 刑罰，罰則s whenever they leave.

Mr Hughes says: 'I would love to get out, but we're 罠にかける for life. In some 事例／患者s we're not even 存在 given the 適切な時期 to redeem ourselves after ten years.' The Hughes have had their mis-selling （民事の）告訴 拒絶するd by the 財政上の Ombudsman Service.

? ARE you stuck with a 貧しく 成し遂げるing with-利益（をあげる）s 貯金 計画（する）? Tell your story to editor@thisismoney.co.uk