Standard Life publish 'proposal for members' - inc. FIXED shares estimate £444 - £536

hall2056

Hi, received my letter yesterday, my allocation is 1499 for 2 endowment policies.

First started in 1982, for £19750, monthly payment is £25.93. Currently on target with a £400 surplus. Matures March 2007

Second started in 1987, for £10250, monthly payment is £20.14. Forecasting shortfall of £2500. Matures June 2007

I will be voting yes, as the 1499 shares x £2.65 = £3972, will at least compensate for £2500 shortfall.

hall2056

ReportInvestor

Hi Iona,

You seem to have done slightly better than average for payouts . I guesstimate your windfall is composed of:
185 shares = £490 = basic windfall
705 shares = £1,868 = variable windfall of 17.8% of contributions paid into your July-88 policy
121 shares = £321 = variable windfall of 10.2% of contributions paid into your Aug-91 policy

See this table to compare with others

Hi hall2056,

I think your first policy may have done spectacularly well, and it is the oldest one so far reported. [Could you confirm that these are your only two policies?]

I guesstimate your windfall is composed of:
185 shares = £490 = basic windfall
1024 shares = £2,714 = variable rate windfall of 39.6% of contributions paid into your April 1982 policy
290 shares = £769 = variable rate windfall of 19.0% of contributions paid into your July 1987 policy

Congratulations.

Poppy9

Had letter today 643 shares

mikeassured

HI

Our endowment was took out in Aug 88 over 25 years for 39000, monthly premiums £47.62. Received our share allocation today of 727.

Sue

ReportInvestor

Poppy9 wrote:

Had letter today 643 shares

Nice one Poppy. That's 8-9% up on my earlier conservative estimate .

elliehenny777

I hold a joint S/L endowment policy with my husband, have just received the demutualisation pack from S/L. I was annoyed to see that without consulting me, my husband was nominated as the eligible and voting member. I was told that although I am a policy holder I am not eligible to vote, nor am I eligble to receive shares. As I have been paying half of the policy since it's inception why do I have no rights? I regard this as discrimination. Anyone know why this is so?
Ellie

EdInvestor

Hi Ellie

The rule is that the first named on the policy is the member. It has always been possible to change the order, and some people have done so - it's quite common where policies are assigned on divorce for instance, or where they are sold.

In families where there is more than one SL policy, couples often arranged it so that one was named first on one policy and the other on the second.That way they got two basic windfalls as well, as there were two members .;)

You couldn't have done that with just the one policy of course. Standard doesn't mind who is the first named - there are no rules governing that. But there is no arrangement for joint memberships. Not sure why not - I guess it goes back to when the company switched from being a plc to a mutual in the 1920s.

JCL

elliehenny777 wrote:

I regard this as discrimination. Anyone know why this is so?

Well as ReportInvestor says if anyone has been guilty of discrimination against you its you or the person who filled in the application form. First named = voter = eligible member.

dolphy

Ours isn't quite as good as Mikeassured but figures are similar, ie

WP Plan started: 1992 over 25 yrs
Monthly Premiums: £50.10
Surrender Value: £9637.60
Target: 39,000

Shares allocated: 417

I guess those extra 4 years make a big difference.

Dolphy

hall2056

ReportInvestor - to confirm there is only 2 Policies.

First one is at least paying back the original sum, whereas the second is forecasting £2.5k shortfall

hall2056