NI Presbyterian mutual society, Short of funds for withdrawal?

crazymess

Northern Ireland Assembly minutes - social - charities - February 2007
www.niassembly.gov.uk/social/2007mandate/moc/080228-evidence.htm


Rev Dr Donald Watts:
I wanted to draw attention to that point.
Mr Clive Knox (The Presbyterian Church in Ireland):
The legislation provides that the commission should have the power to change a charity’s name. A number of organisations in Northern Ireland use the word “Presbyterian” in their name, including the Presbyterian Mutual Society, the Presbyterian Housing Association, the Presbyterian Historical Society of Ireland and the Presbyterian Orphan and Children’s Society. Some of those have an association with the Presbyterian Church in Ireland, and some have separate legal structures. We are concerned that the public perception might be that the inclusion of the word “Presbyterian” in their titles means that all those organisations are associated with the Presbyterian Church. We would like some reassurance that a change of name will not be enforced, and that we can continue to use the word “Presbyterian”.




Representatives of PCI - I feel you should have let us know your concerns in February 2007 - Dr Watts and Mr Clive Knox - we too could then have withdrawn our savings and this was the evidence that it was not part of the church - why did you not tell us?

brick

D.A. wrote: »

much of that money is from bequests, etc. which do not allow it to be used for any purpose other than that for which it was given.

It is indeed a cruel and unfair world.
PCI seemingly can't use monies for anything other than the agreed/stated purpose - which is a good thing.
PMS seemingly did use monies for reasons other than the stated purpose - speaking as someone who understood savings would not be speculated with under any circumstances.

brick

Could this be HMG model for dealing with the PMS problem?

"We do not want the responsible, sensible majority of savers to have to pay more or suffer as a result of the excesses of a small minority."

http://news.bbc.co.uk/1/hi/uk/7945861.stm

(sorry... don't flame me... there's not much else happening... maybe it will make someone smile!)

goodbyepci

Interesting item on the news last night

http://www.bbc.co.uk/programmes/b00j8fn6

nearly 25mins in to the programme

Cherie Blair has been hired as a special advisor in legal action being taken against RBS in the United States.
2 pension funds representing 160,000 council workers in Merseyside and North Yorkshire claim the RBS falsely reassured investors over the state of the bank.
RBS made a loss of £24 Billion last year, the largest ever by a British company.

Whatnow?_3

Goodbyepci, I think that this is a very valid observation. How many PMS members contacted the society in August, September, October and were reassured that all was ok? FALSE REASSURANCES - same as above

Can all those who know of others or contacted the society themselves and received false reassurances since the summer please PM me please?
I know that there have been posts already on this but it would be quicker to PM rather than go back through the blog (if you don't mind, that is). We need to start to quantify information.

If anyone disagrees please feel free to post. I will not be offended!

Thank you!

Cullies

Yes I was given false reassurances by PMS when I called end Sept and again in Oct. '08. I was told on the phone there was nothing to worry about, my family's investments were safe, that the PMS do not take any risks & that any loans they have given out were 100% secured...I feel completely cheated & blatantly lied to

yamis21

I to was given false reassurances by PMS when I called inSept and again in Oct. '08. I was told on the phone there was nothing to worry about, money was safe and was worth exactly the same amount as when I put it in, that they did not deal in stocks and shares and was 100% safe.:mad:

Whatnow?_3

Thanks everyone who has either sent a PM or contributed on this site. There are 8 people to date but I would appeal to you to spread the word on this as out of small acorns, oaktrees grow. :j

We have another 9,492 people to go.

goodbyepci

From the phrases being used by all of you, I strongly suspect they had crib sheets by the phones, because the wording of the conversations, and answers to questions is all freakily similar.

I wonder if there is a whistleblower in the PMS office who would be prepared to tell us the truth?

goodbyepci

jon_groovy wrote: »

In truth anyone that watched the news on bbc when this all broke and CF was interviewed, he blatantly lied there saying there was nothing to worry about and that the money was all there, just tied up

So anyone who seen that was lied to

Yep and they must have done the sums by then.

He also said the money was "lent to congregations"

Well, less than 5% of it was!