Still waiting for with-profits sum
I have been investing £30 a month with Scottish Widows for my children for the past 20 years in a with-profits policy that matured three weeks ago.
Scottish Widows failed to send me a redemption form and I called and was offered £50 for inconvenience and interest on the outstanding amount.
However, I have still not been given the final figure. CE, LONDON
Scottish Widows says maturity packs are issued automatically and posted between four and six weeks in advance of the maturity date.
You contacted it for a valuation and to let it know about a change of address. This was recorded on its system so, it says, it is not sure why the maturity pack didn’t reach you.
Further to my involvement, one went out by first-class post. Scottish Widows now offered £250 compensation and £94 interest for late payment.
However, when I spoke to you, you felt the £10,273 redemption value quoted was about £100 short, assuming annual bonuses of £154 for 2015 and 2016. Further pushing from me for more information indicated that the Scottish Widows figure was right.