Standard Life windfall news

ReportInvestor

Multiply your shares by £2.65 for an approximate guess.

And keep your fingers crossed that the stock market keeps rising .

EdInvestor

On smaller policies of 10 ish and 20 ish years' duration and including the basic 500, the variation seems to be in the 12-15% of policy value range, the longer the higher .

Kantankrus_Mare

ReportInvestor wrote:

Multiply your shares by £2.65 for an approximate guess.

And keep your fingers crossed that the stock market keeps rising .

Received mine this morning.

Have 2 WP policies:

One started in 88 costing 23.14 monthly

The other started in 93 costing 33.87 monthly

Both due to mature in 2013.

I have been allocated 582 shares.


So for my approximate value Ive worked out that 582 x £2.65 comes to £1542.30.

Does this include the basic approximate £500 for being a policy holder or am I to add this on?

Still debating what to do with my policys once this has all been sorted but my instinct is to cash in policys or sell. Pay a lump sum off what I owe and change rest to repayment.

At least then Ive got peace of mind.

catford

Started my with profits plan in 1989 and it matures in 2013 . Last year I had to take as much as allowed from the plan due to long term illness. I'm left with a current plan value of £34731.Obviously the pension will be very small but can anyone of you well informed people give me an idea of what sort of payout i might get. I think it will be the minimum,but will it depend on the length of time held? the amount ?or what??

ReportInvestor

Kantankrus_Mare wrote:

Does this include the basic approximate £500 for being a policy holder or am I to add this on?

The big, bold figure for the number of shares includes both the basic windfall and the variable windfall.

ReportInvestor

catford wrote:

Started my with profits plan in 1989 and it matures in 2013 . Last year I had to take as much as allowed from the plan due to long term illness. I'm left with a current plan value of £34731.Obviously the pension will be very small but can anyone of you well informed people give me an idea of what sort of payout i might get. I think it will be the minimum but will it depend on the length of time held? the amount ?or what??

I'm confident it won't be the minimum, and sincerely hope you do well, in your circumstances, but I have no idea how Standard will calculate this. The worst case scenario is that they count the amount withdrawn as all your early contributions.

Or they could even it out over time - which would be better for you.

Both amount and length of time are important.

What % were you able to withdraw?

catford

It wasn't a very big pension and I cant remember the %age offhand but on
reading this thread I see from ed investor that windfall benefits will be based on 2004 figures which could be to my advantage :j

billy_bulldog

My wife has been a member of a pension scheme adminstered for an ex-employer through SL since the late 80's.

Although her fund has literally no value (she has other provisions), we have hung on for this DM and the associated benefits - she has been told she will receive 265 shares, so just for being a member all that time she seems entitled to about 80 shares.

ReportInvestor

catford wrote:

It wasn't a very big pension and I cant remember the %age I see from ed investor that windfall benefits will be based on 2004 figures which could be to my advantage

Unfortunately for you, they will have been calculated on policy values @ March 2004, but to qualify you may need to have kept the sums up to 31 May 2006 .

But it's not crystal clear .

See the penultimate paragraph of the bottom of page 8 on the policy, document when it arrives. It mentions entitlements on a policy "which has been continuously invested in WP from 30Mar04 to the SGM 31May06.

More encouraging for you is paragraph 6 on page 9 which does say the calculation will be done on WP investments held on 30 March.

It's best to wait and see without getting your hopes too high.

catford

ReportInvestor wrote:

Unfortunately for you, they will have been calculated on policy values @ March 2004, but to qualify you may need to have kept the sums up to 31 May 2006 .

But it's not crystal clear .

See the penultimate paragraph of the bottom of page 8 on the policy, document when it arrives. It mentions entitlements on a policy "which has been continuously invested in WP from 30Mar04 to the SGM 31May06.

More encouraging for you is paragraph 6 on page 9 which does say the calculation will be done on WP investments held on 30 March.

It's best to wait and see without getting your hopes too high.

Will the fact that my serps have still been paid in make a difference?