31 October '02 - Do GIRs accrue daily? We don't know - From Paul Braithwaite

On October 10th I wrote to Alistair Dunbar for clarification on ELAS's policy on the GIR accrual:

"........yesterday on Motley Fool an individual, who has subsequently contacted me directly, assures me that two recent conversations with Aylesbury staff have DEFINITELY assured him that the GIR, even in the event of non-contract departure, does benefit from the
daily accrual of GIR to the date of funds leaving. Please can you clarify this?"

I had a reply letter dated 28th October from an Aylesbury senior manager - Customer Relations, containing the following:

"The Society is not prepared to discuss circumstances surrounding other clients' policies........I feel that no useful purpose will be served by any further correspondence over this matter."

So, I'm afraid I am no nearer knowing an answer. The frustration is that I was asking, on EMAG's behalf, for clarification on POLICY so that we could publish the accurate answer for the benefit of ALL. I was certainly not seeking info on any other client.

It doesn't feel transparent to me!

EMAG repeatedly meets with such stone-walls about not giving us priviledged info when all we seek is publication or clarification on policy for all policyholders.

Currently, we're awaiting an answer to what is happening on GAR rectification.

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