This letter to Scottish Widows should be self-explanatory.  There has yet to be a resolution to the matter-

 

I feel angry and upset with how I have been treated by Scottish Widows, and would like you to consider my complaint.

 

1.     My investment

I took out a flexible savings plan with you in June 1996, which was for a modest sum, but was all I could afford at the time, as a single parent who hoped to save enough to help my daughter through higher education.  Over the ten years I saved £20 a month, or £2400.   

 

It matured on 28 June 2006.  And since May 2006, I have had a number of letters from you informing me that the scheme was coming to an end, and advising me of the final amount due.   This amounts to less than £200, over and above my savings of £2400, with a final figure of less than £2,600.

 

I wrote to you in May ( when I had been told it would be approximately £2,699) and expressed how disappointed I am on the poor return for ten years of savings..  I had then a reply explaining to me that it was all down to stock market performance. 

 

Although I understand that I have to accept this explanation, I am shocked about how poorly your investments appear to be managed.

2.     Your treatment of me

As requested I returned the original copy of the plan to you at the beginning of June with a form detailing the savings account I wanted you to deposit the money into, and I enclosed a letter asking you to do this.

 

Over 5 weeks later, I am still waiting for the money to be deposited, and the only communication I have had from you is a letter telling the scheme has matured and that my final payment will be even less than what was predicted in May.  £2594 in fact.

 

I feel disturbed and aggrieved that your company regards my small investment as so paltry that they do not need to action it, or pay me any consideration or courtesy about its completion.

 

I would like my payment to be actioned as soon as possible.  Thank you.

 

I don't suppose that there will be an apology from Scottish Widows, but it would be at least a gesture of recognition, that small investors are still important, and that you have some principles and integrity in your views towards us.

 

I am sending a copy of this complaint  to the Jessica Investigates column of the Daily Telegraph.    I am also considering a complaint to the Financial Ombudsman Service.

 

 

 

Yours sincerely