Mutual Windfalls back?

planteria

another mutual merger...Druids Sheffield Friendly Society are recommending a transfer of engagements to the Independent Order of Oddfellows Manchester Unity Friendly Society.

kidmugsy

planteria wrote: »

another mutual merger...Druids Sheffield Friendly Society are recommending a transfer of engagements to the Independent Order of Oddfellows Manchester Unity Friendly Society.

From Druid to Oddfellow: can life be more exciting?

planteria

kidmugsy. i've always felt a bit odd, but only now am i set to become a Member of The Oddfellows.

longleggedhair

I will be sorry to see the death of the druids. Their policies where fantastic (dare I say it) because they guaranteed the bonuses up front and had a guaranteed return of at least eight percent annually, though that was probably what eventually contributed to their demise. That was before the optical and dental grants etc. lovely girls in the office too.

redux

planteria wrote: »

another mutual merger...Druids Sheffield Friendly Society are recommending a transfer of engagements to the Independent Order of Oddfellows Manchester Unity Friendly Society.

Only a few days ago I read a Telegraph article from a year or two back and was wondering about Druids.

Does your news mean no new policies, or that sales will be similar but eventually under a new name?

planteria

from my understanding, redux, the plan is that Druids Sheffield will become a sub-fund within Oddfellows, existing policies will continue and new policies can be set up. i do wonder how long-term that might be though:think:

kidmugsy

Is Druids still imposing a Market Value Reduction on its S&S ISA (previously Life Insurance ISA)?

patientperson

planteria wrote: »

from my understanding, redux, the plan is that Druids Sheffield will become a sub-fund within Oddfellows, existing policies will continue and new policies can be set up. i do wonder how long-term that might be though:think:

From previous mutuals moving to MUFS there was no opportunity to open new products with the moved society. Druids may be an exception .. who knows.

longleggedhair

It will remain open to new members but sadly the guaranteed bonus policies have not been available for some years so being a closed reducing fund I wouldn't recommend they where taken out now imo.

planteria

patientperson wrote: »

...Druids may be an exception .. who knows.

that is certainly the plan, pp. the costing basis has been agreed with Oddfellows for 10 years following the tranfer, or until Druids policy numbers (other than CTF accounts) are less than 1,000.