Standard Life windfall news

ReportInvestor

Monday's papers are much less optimistic - With the Independent contradicting the Sunday Independent and the Times repeating that a £250 basic bonus is still possible

"....The publication of Standard's prospectus tomorrow is likely to end speculation that the typical allocation could be significantly more valuable than analysts had initially expected........

.......Insiders at the company now say Standard's figures for 2004 and 2005 will not give members any reason to expect more than that. The figures for 2004 were "particularly bloody", one source said, with a £100m loss on new business, even before restructuring costs were taken into account....."

We shall just have to wait until tomorrow.

ReportInvestor

The Telegraph reports on a new development

To promote loyalty among shareholders, and also to reward and encourage other customers, Standard is offer 2.4m members AND its other 4.6m other customers the chance to buy additional shares at a discounted price.

This will slightly dilute the windfall value for existing members.

It is consistent with an earlier idea of Standard to turn itself into a "people's plc" - IA link

ReportInvestor

Nothing new in Tuesday morning papers. The editors have obviously decided it would be a bad move to have people reading details over breakfast that the morning radio contradicted.

So roll on 7.00 a.m.

Meanwhile

1,100 TONs of demutualisation documents are on their way to members :eek: - Scotsman

ReportInvestor

Standard Life basic rate windfall will be an estimated £490 - IA link :T .

Members will receive a variable rate windfall on top of that.

Our company made an astonishing £340 million loss in 2004. No wonder they didn't want to reveal those figures before. But turned that around to a £150m+ profit in 2005.

ReportInvestor

This looks a good result all round as long as members remember to vote in favour.

Smaller policy-holders have got a worthwhile windfall, while the fact that the average windfall will be at the top end of expectations [£1700 not "less than £1,000" ] should see long-standing mortgage endowment holders getting a substantial return .

Gorgeous_George

ReportInvestor wrote:

This looks a good result all round as long as members remember to vote in favour.

Smaller policy-holders have got a worthwhile windfall, while the fact that the average windfall will be at the top end of expectations [£1700 not "less than £1,000" ] should see long-standing mortgage endowment holders getting a substantial return .

Having seen the surrender value drop by £4.5K over recent years and that after I have paid in another £2K+. Even a £2K windfall would not buy my vote.

And I know, my vote means nothing.

Hey Ho

GG

ReportInvestor

I can't see either logic or self interest in that.

It's Money Wasting, not Money Saving.

And if Standard stays a mutual, with deteriorating business performance, it's you & others that carry the business risk via the with profits fund.

At a mutual "with profits" can easily become "with losses".

Edna_Bucket_2

Gorgeous_George wrote:

Having seen the surrender value drop by £4.5K over recent years and that after I have paid in another £2K+. Even a £2K windfall would not buy my vote.

And I know, my vote means nothing.

As the OP says, what would be the point in that? If everyone who is bitter and disillusioned with Stunned Life (and of course there are many, many of them) took that view the vote wouldn't go through and there would be no company.

A "protest" vote like you suggest is utterly pointless and "money wasting" in this particular context.

frugalwise

Hello folks.
Got home tyoday no letter.
I have an ocupational group pension with Standard Life.
Will I qualify for a widfall?

nickmack

The letter will probably arrive in the next few days if you are eligible.

Do you have 'with profits' fund for your pension?