Scottish Widows Demutualisation Payouts: £70 million still unclaimed!

jax2010

I've been following this thread for some time now. I have a pension policy with SW which was part of a company pension scheme with my former employer. The policy is still current and valid. I completed the online form on the SW website at the end of January and have now received a letter in response from SW dated 23rd March 2010. The letter states:
The above policy was originally taken out with Lloyds TSB. Its administration was passed to Scottish Widows after the merger. This means that you did not hold membership rights in Scottish Widows and are therefore not entitled to a payment.
The thing is, I can't remember ever having a Lloyds TSB policy....I'm not sure that I believe what they're telling me. I may have to do a trawl through old paperwork I suppose to satisfy myself.

k9love

lisaann72red wrote: »

I had a pension from mid 90's to this date but for the life of me I cant remember if I have already claimed! I have sent the form anyway and Im sure they will let me know.

Hi, I recieved a letter today saying they had sent me a cheque in 2000!! but neither me or my husband ever recieved anything, we would have remembered because the so called cheques were quite large, did you ever find out if you had been paid?

vivienp

I spotted this thread at the end of February 2010 and immediately got my partner to go to Scottish Widows' website and complete the online application. He has had a with profits private pension with them since 1991. A few years back he received a letter from them about the demutualisation, telling him that he was not entitled to a payout as his pension did not qualify. I thought it a bit strange as I couldn't see any reason why not. The pension seemed to fulfill all of the criteria. Anyway...

Scottish Widows still have our address as we receive annual statements from them. My partner knows he hasn't received any cheques from them (I'm pre-empting the expected letter saying he has!). His bank account is and always has been with Lloyds TSB and before that TSB, so they should find it easy enough to look into it.

Its now 7 weeks since he contacted them. Has it been taking the full 12 weeks before they bother themselves to reply? I printed out the message saying the application had been successfully received, but in my experience banks will say anything so I don't know if it has. I think I will write to them, despite the website's advice about not doing so. Has anyone else applied around the same time and heard anything?

k9love

benn2407 wrote: »

can anyone remember if, when we had the payout originally, that it could be transfered to a VIP Premier Account - i have one but cant remember if that is why i opened it way back when.
thanks

I dont remember ever having a payout!
Whats a VIP account? would I have one? could my money have gone in to it?
Sorry not very "up" on banking:o

k9love

AMILLIONDOLLARS wrote: »

Well I have just spoken to Scottish Widows and they are claiming that they sent me a cheque £3000k, which was cashed:eek:, I'm in total shock, obviously its now down to me investigate where the money went!!

AMD

Can I ask what tel no you got them on? Im trying to get in touch but theres no contact for this?

barryramsden

hope you win, im in the same boat

munchkinsgran

I have just received a letter today stating a cheque for £1908 was sent to me on 21st Aug 2000. I definitely did not receive it. My brother-in-law also received a letter today saying they had sent him a cheque on the same day. I am going to contact SW and ask if my cheque has been cashed and if so can they let me have details of the bank/BS or institution that cleared the cheque so I can report the matter to the police as an act of fraud. Surely there must be someone ie FSA or the Insurance Ombudsman that we can go to as there seems to be a huge number of people the SW claim they have sent cheques to and who in turn are adamant they did not recieve it. Any comments?

barryramsden

Hi there, I was originally told on the phone that I didnt qualify, then filled in the form on SW website on 16/ 02/ 2010. Recieved letter from SW this morning telling me that a cheque was sent to me on 21/08/2000 for £6182, I think not, you dont forget things like that, especially as it was our silver wedding a few weeks later. Have emailed SW back asking them for details as to where and when the cheque was cashed but from what ive read dont hold out much hope. Ive emailed martin lewis for advice as to the next step i.e. who to complain to next, did this afew weeks ago in anticipating SW reply but havent heard anything, What are we all going to do?

k9love

barryramsden wrote: »

Hi there, I was originally told on the phone that I didnt qualify, then filled in the form on SW website on 16/ 02/ 2010. Recieved letter from SW this morning telling me that a cheque was sent to me on 21/08/2000 for £6182, I think not, you dont forget things like that, especially as it was our silver wedding a few weeks later. Have emailed SW back asking them for details as to where and when the cheque was cashed but from what ive read dont hold out much hope. Ive emailed martin lewis for advice as to the next step i.e. who to complain to next, did this afew weeks ago in anticipating SW reply but havent heard anything, What are we all going to do?

Dont know what we can do! seems a lot of people are getting the same letter, I presume they think we will all right it off as lost money, Ive emailed SW too, asking who the cheques was made out to/ when it was sent/and when it was cashed, neither me or my hubby recieved one:mad:

k9love

k9love wrote: »

Dont know what we can do! seems a lot of people are getting the same letter, I presume they think we will all right it off as lost money, Ive emailed SW too, asking who the cheques was made out to/ when it was sent/and when it was cashed, neither me or my hubby recieved one:mad:

Also I didnt claim back in 2000, didnt know anything about it! so how would they send me a cheque if I hadnt claimed? its all a con they are hoping we will go away!!! well Im not:mad: