Standard Life windfall news

Gorgeous_George

loisamelia wrote:

we got our letter this week too and have 326 shares allocated.
we have a 25 year with profits endowment started in 1994 and we pay £47.88 a month
i think that gives us about £863?

That blows my theory then.



GG

Gorgeous_George

Just received my pack.

25 -year endowment policy started 1 Feb 1985 at £45 per month = 1105 shares.

OH's pack also here but she's at work.



GG

Gorgeous_George

So, for me, the formula above is very close if you don't round down the number of years. In Excel

Paste the following into the results cell:
=((NOW() - StartDate)/365.25)/100*MPremium*(NOW() - StartDate)/365.25*12/SharePrice+BasicShares

Rename 4 cells as follows:
StartDate
MPremium
SharePrice
BasicShares

and in these cells type:
[your policy start date]
[your monthly premium in pounds]
[the mid-share price estimate i.e., £2.65]
[the number of share you get for being a member i.e., 185]

Might not work for you but it won't affect your allocation either way.



GG

Gorgeous_George

OH would receive 523 shares
25 Year endowment policy started 19/07/90
Monthly premium £48.45

Above formula fails miserably. She would have needed to take the policy out in Nov 93. Be interesting to know what the formula is. Should be able to work it out eventually. Maybe men get a bit more than women

On the other hand, the value of my policy went down by nearly £1000 this year while OH's went up £750. Damn clever those Scottish people.



S

NAR

Gorgeous_George wrote:

On the other hand, the value of my policy went down by nearly £1000 this year.
S

And down some £7k since April 2002, as your figures are very similar to mine. So the <£3k payout falls well short of what has been eaten away in the last 4 years.

ReportInvestor

But people shouldnt make the mistake of connecting deductions with demutualisation.

Deductions are a combination of stock market falls and past management blunders that are, unfortunately, water under the bridge for policyholders.

Gorgeous_George

'fraid so. What annoys me most is that I consiodered cashing it in but everytime the bonus was slashed I thought that was it.

I think the number of people claiming that they were mis-sold their endowments hasn't helped. As well as suffering at the hands of the FSA, SL have had to compensate these people and that must have eaten at their profits (or added to their losses).

Hopefully, as the time limits kick in, these losses will be minimised in the future whatever the outcome of the forthcoming vote.

As for the payout, it's only <£3K if you sell at £2.65. The market value of these shares could be somewhat different to that (for better or for worse).

Que sera, sera.

GG

bobber

My mum got her details through too if that helps, ReportInvestor. We were pleasantly surprised actually as she got more than we expected.

We both took them out at the same time (Sept 92) but hers was for £9000 for 15 years (mine 37000 for 25). She's been paying £35.79 a month and its due to mature Aug 07 (no idea of surrender value - sorry). She's been allocated 342 shares (43 less than me).

ReportInvestor

Thanks bobber.

Your is an interesting one as I found someone on another site had 0.9% more, starting at nearly the same time but with double the contributions.

That could just be down to age and life insurance, of course. There are going to be some small variables.

reformedspender

I still haven't received my pack yet - should I start panicing?