Standard Life windfall news

Chadsman

cheggers wrote:

As far as I know the following are still arround:

...
Reliance Mutual

What products do Reliance Mutual offer? I can only find reference to annuities on there website.
:beer:

ReportInvestor

It might be worth starting another thread for those keen on LifeCo carpetbagging, or people are going to get lost!

Isasmurf?

Has noahveil thought of any reason for the odd discrepancy in his/her Standard Life windfall allocation?

noahveil

ReportInvestor wrote:

Has noahveil thought of any reason for the odd discrepancy in his/her Standard Life windfall allocation?

If the policy term is a critical factor - then, yes .

BTW when I took out my policy in April 1983, LAPR was 15%. A few years later it was reduced to 12.5%.

ReportInvestor

The policy term does not appear to be a critical factor.

noahveil

ReportInvestor wrote:

The policy term does not appear to be a critical factor.

As it is the only element which would explain the difference, it must be.

The original LC Endowment was taken out in 1983 for 20 years.

As I remortgaged in 2002 and was tied in for a further 6 yrs (cashback) and StL returns had already started plummeting, the endowment was extended by a further 10 years on the basis that anything could happen in the intervening period - windfall (happened), pick up in values (yet to happen) etc.

I am also in no hurry to pay off the mortgage and will probably not even do so when the endowment is finally cashed in/matures. As the endowment value is in excess of the mortgage loan all I now pay is £5/month maintenance/life assurance.

So it is now a 29 year policy with 6 years still to go.

If this doesn't explain the apparent discrepancy, StL have made a mistake as the figures previously given are accurate.

Bonecracker

Well Im glad I found this site and this board just so I can share some good news.

I opened a Personal Pension Scheme with what used to be Guardian Royal Exchange (GRE) back in 1989-90 ish and well I was 19years old then and to be honest my Dad pushed me into getting a personal pension as I just wanted to go out all the time and saw a pension as a bit old and farty.

I did however only pay into the pension twice about £40 quid in all and well that was enough for me I was more interested in going out, so anyway the other day I got a nice surprise when Standard Life tracked me down and sent me a letter saying I had 245 shares coming to me if demutualisation goes ahead.

Im so happy.

Ian_W

Bonecracker wrote: ... a nice surprise when Standard Life tracked me down and sent me a letter saying I had 245 shares coming to me if demutualisation goes ahead ...

Don't forget to vote then!! Will the £600 or so they're worth be for a good night out, or have your priorities changed a tad?

rubber_soul_2

Thanks for the above replies regarding stakeholder pensions, I would click 'thanks' but the button still hasn't made its return.

Bonecracker

Im going to be sensible and wait and see how it turns out, I will not be spending the money straight away.

stevewatersheddings

endowment policy start date - november 1989
premium - £26.20 per month
shortfall - thousands, cant remember
policy - changed policy to with profits in march 1992
shares - 407

gonna take the money and run...