Hi, (throwaway account)
I have the above Savings Plan.
It's an expensive product with 2% AMC on the total fund value and that's before any charges on what the fund is invested in and extra monthly fees: 'admin fee', 'platform fee'. etc.
I've moved my money out of the managed funds it was in and now it is in something approaching the equivalent of S&P500/MSCI with a 0.07% fee.
I think I'd be better moving it to Trading 212/De Giro etc. and save the 2% AMC fee.
However, I'm looking at a cost of 30% of the current value as an early withdrawal net amount available to me - they call it 'surrender value'.
It's a 10 year plan and I'm just coming up to the end of year 5.
Does anyone have any suggestions as to how I can get out of this early without such a punitive penalty? I'm assuming the contract is 100% water-tight - I think it was signed by the Company Secretary - Louis Cyphre.
Thanks.