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Article: GREENWOOD'S VIEW: Shorn of living pension.
- Article from:
- Money Marketing
- Article date:
- April 16, 2009
CopyrightCOPYRIGHT 2009 Centaur Communications Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Zombie life funds have for years been a whipping boy for personal finance journalists, whether writing about pensions or any other with- profits investments. Their restrictions on investing in equities have made attacking investments in both closed and open with-profits funds like shooting fish in a barrel.
"Get out whenever you are offered a penalty-free window and move into a unit-linked pension with star fund managers" was the advice. But not for the first time in financial services, apathy will have served with- profits investors who ignored this advice well, as equities have floundered.
With-profits have come in for such a beating over the last ...