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Are you entitled to Standard Life Shares?
MSE_Martin
Posts: 8,272 Money Saving Expert
What's this about?
If you've ever had a product with Standard Life, it's possible you're eligible for shares from when it floated on the stock market last year. Over 200,000 policyholders have failed to come forward to collect their entitlement to 90 million shares worth £272 million.
It's worth checking, you could be missing out on thousands (or a deceased relative's policy may entitled you to inherited shares).
What products does this apply to?
It applies to anything of the 'with-profits' variety. This could be a pension, a bond or an endowment. If you have a 'unit-linked' policy then sadly this isn't you. If you're not sure.... why not follow the checking procedure anyway.
How to check?
First of all try to have the paperwork at hand, but even if you don't have it you should be able to claim. IIf you plan to claim on behalf of a deceased relative then you'll need the relevant certificate showing you've a right to do so.
Then contact the Standard Life Demutualisation Response Unit on 0845 275 3000.
Why are there shares available?
Standard Life used to be a mutual insurer - that means its members (people with with-profits policies) owned it. It decided to float on the stockmarket, in other words sell the company to shareholders, and therefore those people who were members needed to be paid as part of the sale.
Martin
PS please let me know if you get any shares you were missing out on.
Related Articles:
If you've ever had a product with Standard Life, it's possible you're eligible for shares from when it floated on the stock market last year. Over 200,000 policyholders have failed to come forward to collect their entitlement to 90 million shares worth £272 million.
It's worth checking, you could be missing out on thousands (or a deceased relative's policy may entitled you to inherited shares).
What products does this apply to?
It applies to anything of the 'with-profits' variety. This could be a pension, a bond or an endowment. If you have a 'unit-linked' policy then sadly this isn't you. If you're not sure.... why not follow the checking procedure anyway.
How to check?
First of all try to have the paperwork at hand, but even if you don't have it you should be able to claim. IIf you plan to claim on behalf of a deceased relative then you'll need the relevant certificate showing you've a right to do so.
Then contact the Standard Life Demutualisation Response Unit on 0845 275 3000.
Why are there shares available?
Standard Life used to be a mutual insurer - that means its members (people with with-profits policies) owned it. It decided to float on the stockmarket, in other words sell the company to shareholders, and therefore those people who were members needed to be paid as part of the sale.
Martin
PS please let me know if you get any shares you were missing out on.
Related Articles:
Martin Lewis, Money Saving Expert.
Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.
Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.
Don't miss out on urgent MoneySaving, get my weekly e-mail at www.moneysavingexpert.com/tips.
Debt-Free Wannabee Official Nerd Club: (Honorary) Members number 000
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Comments
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I have rang this number today has my DH has a pension policy with them unfortunatly we dont get anything as he is 100% with the Standard life properties policy.Personally dont understand when it comes to stocks an shares but thankyou anyway was worth a try.0
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Calm-Seas wrote:I have rang this number today has my DH has a pension policy with them unfortunatly we dont get anything as he is 100% with the Standard life properties policy.Personally dont understand when it comes to stocks an shares but thankyou anyway was worth a try.
The good thing there is that you have made far far more by being in that fund than the qualifying with profits fund even with the shares added.
As a side comment, if all your money is in that fund and the fund is a fair size, you may want to consider altering the fund mix. The Property sector is not expected to perform as well this year.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
dont go bothering yourself reading my post!0
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cybershot wrote:does the AXA SUNlfe bonus cash builder come under this? had minr since 2000
AXA and Standard Life are different companies.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
oops duhhh0
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+-+--This may seem like a silly question, but the link stated 'have you ever had a standard life product - does this mean you can claim on an old account, even if it is closed?
I had an endowment about 6 yrs ago.0 -
allb
No sorry you had to have an account at the time of the demutalisation - so six years ago is too old I'm afraid.Martin Lewis, Money Saving Expert.
Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.Don't miss out on urgent MoneySaving, get my weekly e-mail at www.moneysavingexpert.com/tips.Debt-Free Wannabee Official Nerd Club: (Honorary) Members number 0000 -
My works pension is with Standard Life, but I've been retired 4 years. Does this scheme include policies already paying out when demutualization occurred?0
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A dumb question: My mortgage is with standard life. Presumably I'm not entitled to anything?0
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No to both the last two queries.Trying to keep it simple...
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