Teachers > Liverpool Victoria

planteria

there is a proposed transfer of business of Teachers Provident Society to Liverpool Victoria.

does this affect anyone else here?

bilbo_2

yes me and the wife we took out 2 stakeholder pensions about 15 years ago

£250 windfall if they merge

planteria

i have the same bilbo:)

yes, c£250 for all members..

those that hold with-profits policies are in line for far more though...i think dependent on the value of their policies. on average c£4,600 though_party_ ...i think paid our as uplifts to their policies.

planteria

https://www.teachersassurance.co.uk/teachers-assurance-news/teachers-assurance-proposes-transfer-business-liverpool-victoria

eastofeden

Where did you get the info re those holding with profits bonds being paid more, I can't see anything about it? Thanks!

planteria

second paragraph below 'Key terms and benefits'...

"The inherited estate is currently worth c. £140 million** and its distribution should result in enhancements to pay-outs to circa 30,000 with-profits policyholders."

patientperson

Good news for many of us mutual investors

bilbo_2

Bring back Richard wendell and carpetbagger.com

planteria

it's Yendall, but yes, i knew who you meant

planteria

AGM pack received this weekend includes an update on the proposed transfer, which seems to be a formality.

Teachers Assurance is financially strong, but new business is not high enough to cover operating expenses... so there's no real choice, i don't believe.

all members are set to receive a £250 windfall, for loss of membership rights in TPS, early in 2016.

With-Profits policy holders are set to receive a lot more than that.. the society's estate is worth £142m and this is set to be distributed, over time, amongst the 30,000 WP policy holders..no details yet.

kidmugsy

Oh !!!!!!!