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Mutual Windfalls back?

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windfalls on the way:

http://www.telegraph.co.uk/finance/personalfinance/savings/9899870/600-windfalls-for-15000-mutual-members.html

the members have voted overwhelmingly in favour:

http://www.marineandgeneralmutual.co.uk/members/egm-2013/

perhaps Carperbagging could be on the way back:idea:
«134567

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    planteria wrote: »
    perhaps Carperbagging could be on the way back:idea:

    Who do you have in mind?
  • talexuser
    talexuser Posts: 3,527 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Never heard of them before... :o
  • innovate
    innovate Posts: 16,217 Forumite
    10,000 Posts Combo Breaker
    planteria wrote: »
    perhaps Carperbagging could be on the way back

    Have you had a few too many capers? I can tell you are really excited, even cross-posting about it
  • kidmugsy
    kidmugsy Posts: 12,709 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    The first link contains a sentence that ought to be carried as a banner on the pensions forum, as an answer to some of the dimmer posters.
    "Annuity business is extremely competitively priced and also requires substantial amounts of capital ..." he said.
    Free the dunston one next time too.
  • planteria
    planteria Posts: 5,322 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    capers;)

    who knows, Thrugelmir. but i have small amounts with most Building Societies and in recent months have started small investments with some Friendly Societies, and have small pensions with some mutuals too.

    hopefully 2014 will see some 'bags' come to fruition:A
  • planteria
    planteria Posts: 5,322 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    talexuser wrote: »
    Never heard of them before... :o

    nor had i, but i know a couple of baggers who are in line for a windfall:beer:
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    planteria wrote: »

    hopefully 2014 will see some 'bags' come to fruition:A

    Not something I'd bank on. Building society demutualisation is well past it's hey day.

    As for pensions etc. More likely to be swallowed up by Phoenix Group, who specialise in running off closed books.
  • jimjames
    jimjames Posts: 18,623 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    The difference with building societies was that you could leave £100 in an account to retain membership. I certainly wouldn't want to commit thousands to a friendly society on the remote basis that they may convert at some point for some unspecified return. Based on the money from building societies and loss of better return on your capital with a FS you'd probably do better just getting superior investments in the first place.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • planteria
    planteria Posts: 5,322 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Thrugelmir wrote: »
    As for pensions etc. More likely to be swallowed up by Phoenix Group, who specialise in running off closed books.

    that is certainly part of the consolidation. i had a Stakeholder with Royal Liver, which we voted to be taken over by Royal London, so our fund is a RLondon sub-fund nowadays.

    we shall see though. Building Societies are bound to consolidate further, but are currently doing so without a windfall for members. Friendly Societies are a bit different though, there doesn't seem to be a 'standard practice'.
  • planteria
    planteria Posts: 5,322 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    jimjames wrote: »
    I certainly wouldn't want to commit thousands to a friendly society on the remote basis that they may convert at some point for some unspecified return.

    other than having a small 4 figure some in a long-standing LV bond, nor would i. i am into Friendly Societies for very small sums.
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