I thought we were reforming our financial institutions, but we are not. 

Since 1988, I have been paying £87.58 into a mortgage endowment plan  that matures in 2013. It should have then been worth £60,000. It is due to be worth half that amount. The bank now suggests I increase the premium by a whopping £508.81 a month or 550 per cent. With an estimate growth or 4 per cent a year, it suggests, I would get back £25,357 on maturity and thus make up the shortfall.  But there is no guarantee.

In times of financial crisis, when millions have lost their savings, this is the recommendation of a blue chip bank .

What it fails to say is that if I choose to save the same £508.81 a month in a zero interest account for the same amount of time I will be guaranteed to get back £24,931 (just £426 less) with no risk whatsoever.  Should there be one or two per cent interest a year, I will get back more.  The difference, of course, goes into the pockets of  bonus-grabbing fund managers.

Shame on you, bank, and all involved in selling this scam.