1 reviews | Active since Nov 2020
Momentum Annuity
Almost 11 years ago I took out an Annuity so I can be financially independent the day I retire. All these years I paid a substantial amount on a monthly basis, never took a payment holiday, never borrowed money from my Annuity so it can grow. Every year there was a 10% increase on my contributions and my broker contacted me and asked me to increase the amount I am saving to ensure there are enough for me when the day come. I never received statements wrt the growth of my annuity, and a friend told me to register onto the website and monitor myself. Big was my shock to see my annuity is worth LESS than what I've paid in over the years. I have contacted my broker several times about the issue, (he agreed telephonically this does not sound right to him either) and after no response received I contacted the Ombudsman, but did not get much assistance here as well. I insist to know what they are going to do to reimburse me on what I've lost over the years, but since February 2020 I am waiting to hear from them on a solution. I want to know what happened to my money, why is it worth less. I feel some brokers just write a policy to get their commissions and never look after the investment. I am so, so disappointed with Momentum.
Kind regards
CK
Kind regards
CK
