NI Presbyterian mutual society, Short of funds for withdrawal?

warmhands.coldheart

Unbelievable. another English based society gets bailed out while we are left in Limbo!! Double Standards?? or complete useless politicians??

crazymess

Amadan22

Hadn't heard about the questions etc. Will be worth waiting to see what they say after 21st.

Groovy_jon

How bad is it?

D.A.

I realise the Moderator probably has good intentions, but:

The spokesman confirmed that a dedicated team appointed by Moderator the Rev Donald Patton, made up of accountants and clergy

It was accountants and clergy who caused this sodding mess in the first place!

And I've said it before on this thread, but I'll say it again: why oh why does PCI always seem to think that clergy are qualified to do things other than just pastor their congregations????

Whatnow?_3

Thanks for above jon groovy

"HM Revenue and Customs has provided "helpful information" which is available from the society upon request."

I've already phoned PMS only to be told that I would have to contact HMRC myself. There was no offer of a telephone number.

Please stop publishing information about 'helpful information' if none of the staff can be helpful about it.
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The news at the minute is devastating. I don't see why the Church can't change some of its laws to help..after all we are in exceptional times, does this not call for exceptional support for its members. We will be leaving PCI as the contempt with which we have all been treated is despicable. We have worked for the last 20 years to get back 2/3s (if we're fortunate) of what we put into the society.

Part of this money belongs to our builder and the rest was our sons' university fees. It is not just this generation that has been impacted but the next as well. Sorry for the rant - needed to get it off my chest.

I am still very annoyed about the 21 day rule. If the business had been run properly this problem would have been spotted well in advance.. total incompetency and arrogance.

Whatnow?_3

If it is voted that the society runs down over a period of years then why can't the PCI contribute to the shortfall per annum to help to bridge the gap.

This is not only going to impact this generation but also future generations. I am sure that there are many people who have left, are in the process of leaving and will leave the church so church membership will be impacted in the future..maybe PCI don't care a jot anyhow.

warmhands.coldheart

I really do think the PCI should be doing more as they WILL suffer... They rely on donations from congregations for their survival.. I haven’t been much of a church goer to be honest over the past few years (Moved around a bit) but I’d really think twice now about going back to PCI.

Again I know they are not directly linked to the PMS but as I said before.. Guilty by association and as had been mentioned before; some congregation members were no doubt advised to invest in it by ministers etc… They really should be pulling their finger out to help more.. be it loans, advice.. whatever it takes..

I really feel sorry for people who have large amounts of money tied up in the PMS… This really is something that cannot be ignored by our politicians when you are talking about people’s life savings…

Whatnow?_3

Where is everyone today? Usually there are several posts on by this time. Talk to me.

Nomad25

made up of accountants and clergy

Dedicated team maybe, but I bet they are not doing it for charity - this will mean even more funds diverted away from investors.

I do not have any money with this bunch, so I felt uanble to comment so far. However, now I am angry and feel for all you folks who have been well and truly screwed. I guarantee those involved will be relying on the goodwill of their members to sit tight, shut up, not cause trouble and hope the executives sort it out.

The savers need to really make a fuss, step up, grow some balls and kick ars*, or else it will be slid under the carpet.

amadan22

hello all. there are just too many things to comment on.1: from the report it appears that deti managed emergency legislation to allow administration to take place extremely pronto! how come everything else from there moves at the speed of a school boy on the way to be caned!? 2: interest rates to borrowers from pms are to be held 0.5% higher than banks. (my understanding. could be totally wrong) would it not ,therefore, be totally wise for them to change loans and pay money back to pms? (probably totally naive again). 3:who are these potentail buyer/investors and, in the event of their intervention, what happens to shares in pms? are they holding off for better deal and to assess voting outcome? 4:are we allowed to turn shares into loans? and 5: how'd it take the administrator 2 months to come up with something that, i'm guessing, is probably a standard format? good health and cheers. p.s. i really hope i'm not asking stupid questions and wasting your time!!!

crazymess

Didn't have time today to post before now as I was being so sick!!!!!!!!


Unless we have a meeting over approx 100 people asap say goodbye to your money!

We should be able to have a meeting in our largest Presbyterian Churches - we need to do something.

Thoughts?