NI Presbyterian mutual society, Short of funds for withdrawal?

D.A.

fivealive wrote: »

I think DA does understand. I have read what DA, Crazymess and Goodbyepci have written today and I somehow agree with all 3 of you if that is possible.
Yes I believe that PCI has liabilities as far as the PMS is concerned but I don't think that the entirety of the PCI is rubbish just because they have failed us in one important area.
I really don't know how to explain myself properly other than what I have already said so I hope it makes sense to some-one?

Absolutely spot on, fivealive, and I think you have summed up where all of us are coming from.

I do not disagree with crazymess or goodbyepci. The only thing I would ask people to remember is that whilst PCI may have 43 million, I would imagine it is no easy task to get this money freed up to be used to help PMS savers (surely you all know what a complex beast PCI is?).

Also, remember that the Moderator is in general a figurehead. The real power in PCI is held by the Boards and Committees.

crazymess

D.A. wrote: »

Absolutely spot on, fivealive, and I think you have summed up where all of us are coming from.

I do not disagree with crazymess or goodbyepci. The only thing I would ask people to remember is that whilst PCI may have 43 million, I would imagine it is no easy task to get this money freed up to be used to help PMS savers (surely you all know what a complex beast PCI is?).

Also, remember that the Moderator is in general a figurehead. The real power in PCI is held by the Boards and Committees.

Well then the Boards and Committees should (with Government) arrange an interest free loan and pay off the shortfall - and get the whole thing sorted and put it behind us.

john2009

goodbyepci wrote: »

I wonder how they knew who had money in PMS, were they cold calling?

that's the million dollar question but it is one I haven't got to the bottom off ......... yet! I will keep you posted.

OldJohn

When people withdrew money from the bank to invest in the PMS, they probably had them make the cheque payable to the PMS.

If only there was some way that someone (with lots of money) could/would have shares transferred from folk desperately in need. Say you have 10 shares (£1000) - give them to me I give you £500 and when they can be redeemed, you give me back the £500 and keep any additional money that you get. I'm sure someone/organisation could do something, there would need to be a one page legal transfer form set up. Oh I wish I had some funds........

goodbyepci

http://www.newsletter.co.uk/news/Treasury-announces-framework-for-PMS.5022664.jp

abeliever

OldJohn

I'm really delighted to see someone trying to find a solution for those who badly need funds - now! The most obvious source of a "loan" is NI Assembly (as the issue is Regional). How about a short note from yourself with this suggestion to Peter Robinson/Arlene Foster/PCI ....copied to the Newsletter?

goodbyepci

abeliever wrote: »

OldJohn

I'm really delighted to see someone trying to find a solution for those who badly need funds - now! The most obvious source of a "loan" is NI Assembly (as the issue is Regional). How about a short note from yourself with this suggestion to Peter Robinson/Arlene Foster/PCI ....copied to the Newsletter?

It seems like such a long time till we will hear anything again from the administrator...late summer?

I still cannot understand why he hasn't asked who actually needs funds now, who can wait for 6 months, a year, who is in it for the long haul?

It would seem to be essential information to start resolving everyone's problems.

Also why are PMS not answering letters.
I have sent several letters(hard copies) and emails, and not had so much as an acknowledgement

How many staff are working in the PMS office now, does anyone know?

sickasaparrot

goodbyepci wrote: »

Also why are PMS not answering letters.
I have sent several letters(hard copies) and emails, and not had so much as an acknowledgement

I was wondering if writing to Mr Boyd at his business address and stating in the letter that previous letters to PMS have gone unanswered/unacknowledged would be more successful?????????

His address is:

Arthur Boyd & Company
3rd Floor
Franklin House
12 Brunswick Street
Belfast
BT12 7GE

Amontylado

Hello again. I noticed an interview by Evan Davis with Gordon Brown in which GB stated that 'No saver has lost any money...' so I emailed Evan Davis with a brief summary of the PMS situation. He has now replied saying that he will get the Today programme on to it.
As the Treasury review was announced on 20 Feb this may reduce the newsworthiness of the story as now the government appears to be doing something - but how long will the review take and will it help current PMS members or just make recommendations for the future?
Anyway if the story is reported by the Today programme this should increase the pressure to provide some help for the beleagured PMS members.

BelfastGran

Thank You Mr Robinson And Mr Maginnis For Speaking To The Prime Minster About The Terrible Situation That Savers Find Themselves In, I Am So Pleased That Our Politicions Are Doing Their Best.