Former Scottish Life Member? Last chance for payment after demutalisation

MSE_Martin · 24 April 2007 at 5:47PM

If you are a former Scottish Life member you may be eligible for a £500 payout for loss of membership after its demutalisation in 2001. The deadline for claims is 1 July 07 so check now to see if you're owed.

Check If You Can Claim

You can find all the details for claiming on the Scottish Life website but here are a few rough guidelines to see if you can claim:

If your policy

was in force on 11 September 2000 and still in force as at 1 July 2001, and
was issued in your own name, and
was not assigned to any other party prior to 1 July 2001

Not all polices are eligible (most pensions are excluded) so check the qualifying list of policies first.

For full details on claiming go to the Scottish Life website.

Murphy_The_Cat · 27 April 2007 at 9:38AM

If I get a payout, I'll owe you a pint :beer:

lolly5648 · 27 April 2007 at 9:45AM

Does anyone know if they paid this to you as a cheque or paid the money into the plan? I had a Talisman personal pension plan but transferred it to someone else in 2003 and am not sure if I got anything or not. I dont seem to have any relevant paperwork now.

oops_a_daisy · 1 May 2007 at 11:01PM

WOW - looks like you have done it again Martin :beer:

I have a 'old talisman' personal pension dating back to 1989 which is on the list of qualifying policies but I stopped making contributions to it some years ago although it is still running so am not sure if I am eligible - think I will be making a quick phone call tomorrow

dunstonh · 2 May 2007 at 9:27AM

unit linked Talisman pensions do not qualify. With profits ones do.

I had a Talisman personal pension plan but transferred it to someone else in 2003

Most Talisman pensions had guaranteed annuity rates that are highly valuable. On a 100k fund, you would need around £140k on an equivalent pension just to pay the same amount.

If you sought advice on the transfer, then you may want to go back to see if there were guaranteed annuity rates as the transfer may have been mis-sold if that is the case. If you did it yourself then you have no comeback.

baby_boomer · 2 May 2007 at 5:56PM

Royal London, who bought Scottish Life, want shooting for this business.

They reneged on the larger part of policyholders windfalls by promising additional payments would be added to policies on maturiety.

Then they used the small print to go back on this promise.

Now they are trying take over another mutual, Royal Liver, without paying windfalls.

Meanwhile their chief executive gorges himself on the proceeds. Beware of his intentions if you are a Royal Liver policyholder.

The average pa growth on a ten year Scottish Life with profits policy maturing in 2008 is set to be a paltry 1% (if markets perform).

Former Scottish Life Member? Last chance for payment after demutalisation

Comments

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free