NI Presbyterian mutual society, Short of funds for withdrawal?

goodbyepci

http://www.uup.org/newsrooms/latest-news/general/pms-members-deserve-equity.php

joylikes2shop

http://www.staffordcarson.com/2009/06/meeting-with-first-minister/

OldJohn

David Dunseith Talkback today 5 minute comment about 1hr 17minsthrough:

http://www.bbc.co.uk/iplayer/console/b00l6qv3

presbyteriannomore

I was amused that Stafford Carson said that he hoped something would resonate deep within Gordon Brown's presbyterian heart. It would have saved all those who have suffered in this crisis an awful lot of heartache if the PCI leadership had felt their presbyterian hearts resonating way back when this first started! New moderator, same old solution i.e. keep passing the buck.

Dr._Who_2

I'm confused about this saver/investor thing and I think some people are using it as a red herring to avoid accepting responsibility.
Like the rest of you I thought of myself as a saver with PMS - how can anyone say that I wasn't!!

If I put e.g. £3,000 into a Nationwide cash ISA that is recorded in a pass book - the £3,000 is there and I can withdraw it if I want it: the £3,000 earns interest (tax free) and I can get the interest and do what I want with it.

If I put £3,000 into the PMS that is recorded by way of "share certificates" - the £3,000 is there and I can withdraw it if I want it: the £3,000 earns interest (taxable, unfortunately) and I can get the interest and do what I want with it.

The "share certificates" take the place of the pass book, in my view: these aren't normal shares as would be e.g. shares in BT which can go up/down in value.

Is this too simple a way to look at it?

Pray hard that something will come of the meeting betweent the First Minister & Gordon Brown.

crazymess

Further to the Investor v Saver theory:


Dividends paid on 'Equity' shares do not rank as a deduction for Corporation Tax but so far as we are aware the dividend paid to shareholders in PMS did rank as a Corporation Tax deduction.



Maybe the legal/professional people can explain this one!

goodbyepci

I see we are making the National news this morning.
BBC breakfast, Kate Silverton has just been talking about the PMS, and showing a clip of the protesters with their posters and placards outside Church House at the Assembly.

It certainly doesn't make PCI look good!

goodbyepci

http://news.bbc.co.uk/1/hi/northern_ireland/8104326.stm

goodbyepci

http://www.belfasttelegraph.co.uk/news/local-national/some-presbyterian-fund-savers-lsquocannot-pay-for-own-burialrsquo-14341191.html?r=RSS

Ballygal

Off now to work but will be thinkin of other more crucial meetings such as the one in Downing Street. Let's all send positive vibes towards our local politicans as they speak up for us with the PM.