I have been paying a Retirement Annuity since 2005. I noticed 5 months ago that I wasn't making any money on this at all, rather paying huge monthly fees to Discovery and getting very little 'investment'. I called them and said that I will not be paying any additional contributions and asked them if there are penalties. They said that THERE WERE NO PENALTIES. I just got a statement from them and they have deducted 25% of the profit of the investment over the 9 years I've been paying for Adrian Gore's holiday home. What a joke. I have asked them for the phone recording from that discussion where I was promised that there are no penalties. I guarantee I won't hear from them! Rather go to Allan Gray people. At least your money will grow with them and they won't rob you with huge monthly fees.
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