One million Norwich Union policyholders to share £1.4 billion

in Savings & Investments
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  • Elmer_Dudd wrote: »
    A relative is gutted with what they are offering him_

    Qualifying CU policy running since 1988.....they have offered just under £600!!!

    Qualifying CU policy running since 1993...they have offered £200!!!

    Something smells rotten over this reattribution.

    And what do they mean by a minimum payout of £200..will they offer more??

    Elmer


    you are lucky im only getting 300 pounds and i took mine out in 1988 as well!!!! im taking the money every little helps:beer:
  • dunstonhdunstonh Forumite
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    skinnymom wrote: »
    you are lucky im only getting 300 pounds and i took mine out in 1988 as well!!!! im taking the money every little helps:beer:

    The biggest thing taken into consideration is the value of the investment in the fund and then timescale.

    Small regular plans, like endowments, start at zero and takes years to build up in value and even then most endowments are actually small values when you compare them to some pensions and investment bonds
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • melburymelbury Forumite
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    I had the offer this week and mine is through the company pension scheme I have been paying into.

    I have been offered £300, but one of my work colleagues has been offered nearly £2,000:eek:
    I am just assuming the amount you are offered is dependent upon how much you have paid into the pension scheme. Does anyone know if I am correct in my assumption?
    Stopped smoking 27/12/2007, but could start again at any time :eek:

  • dunstonhdunstonh Forumite
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    I am just assuming the amount you are offered is dependent upon how much you have paid into the pension scheme. Does anyone know if I am correct in my assumption?

    Answered in the post above yours.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • mpetmpet Forumite
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    I'm sure there is a formula as to who gets what, but it would seem from previous posts, my offer is very good. Ive got an endowment (originally supposed to cover a £100k mortgage) started in 1994, due to mature in 2014. My offer was £1626. Do the contributions made determine how much the incentive payment is?
  • daveyjpdaveyjp Forumite
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    Do the contributions made determine how much the incentive payment is?

    Yes and it's not an incentive payment - its an extra return on the money you have invested in Aviva.

    £350 offered to us. Voted Yes as the endowment only has a few years left and chances are this won't happen again before it matures.
  • jonnybjonnyb Forumite
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    daveyjp wrote: »
    Do the contributions made determine how much the incentive payment is?

    Yes and it's not an incentive payment - its an extra return on the money you have invested in Aviva.

    £350 offered to us. Voted Yes as the endowment only has a few years left and chances are this won't happen again before it matures.

    Surely it is an incentive payment. It is an incentive for us to give up future rights to other special distributions. If it was not an incentive, there would be no vote on whether to accept it; we would all just get a bonus, which is what the recent special distribution is.
    Karma is a wonderful thing. ;)
  • paylesspayless Forumite
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    My 5 packs today ( postman happy! .. NOT)

    £200 x3 ( one of these is for a small CU GPP staff pension !)
    £390 ( pension transfer)
    £450 ( mtg endowment)
    There's one more payment due for a policy already matured - only expecting £200 on that one.
    Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.
  • dunstonhdunstonh Forumite
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    I had one phone up yesterday and tell me his was just over £1700. I have two more over £2000 and I estimate that one other will phone me any day now and based on the others, his will be over £3000.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • What about if you have a pension with them? I don't understand what it will do to my policy???? Does anyone else know?
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