Mutual Portfolio

[ToryBoy]

i don't think they're a 'mutual' are they?

According to this they are a PLC .. so although they have WP policies I cannot see that you are a member in the way that baggers think.

http://www.pru.co.uk/about_us/

No Prudential are not a mutual, however this is where you get the windfall from, because they want to split the excess assets in the with profits fund between shareholders and policyholders. A mutual would have no incentive to do this. Surely you have heard about the deal going on with Norwich Union at the moment.

[patientperson]

Yes I understand that .. I think you must have a policy up and running at a certain date which has passed. If a new WP policy is eligible then it might be interesting.

More investigation needed .. keep us informed

[ToryBoy]

Yes I understand that .. I think you must have a policy up and running at a certain date which has passed. If a new WP policy is eligible then it might be interesting.

More investigation needed .. keep us informed

I think the date was just in reference to the last time they were thinking about it, however I will have a look see what I can find!

[Trustee]

In truth you'll probably lose as much by having it tied up in the poor performing WiP policy - current 10 year policies are lucky if they are paying out capital at the moment - than you would gain from a share of any orphan assets if available and that's a big if. Also the share of assets will likely be a percentage of your investment and based on the length of your policy held. Think peanuts.
A zero sum game in my view.

[TOPCAT57]

I was in the Nationwide the other day discussing an investment with a member of staff.

When she loaded my details on the screen I noticed the wording something like:


Membership: Charitable Donation.

I have been a member since around 1999 - does this mean I get nowt if they go to a plc?

[HB]

Yes. Introduced 2/11/97.

[planteria]

but doesnt necessarily mean that you won't get a windfall. one day

[TOPCAT57]

Thanks for replies.

[planteria]

i think i am going to sift through BS accounts, close any duplications such as one of my Nationwide accounts and the Cheshire and Derbyshire ones, and reduce the others back to £100. seems a shame to let them go, and been in it for the long haul already now .

thinking to close Royal London ISA & transfer into main ISA fund im setting up.

and close LivVic Bond - anniversary is October so might wait til then.

certainly moving the bulk of pension pot away from the mutuals, but tempted to retain the policies with NFU, Royal Liver, Teachers and Wesleyan with small values, say £100, just in case things develop. thoughts .

[planteria]

is there a list of which BSs have merged with which during the past 2 or 3 years anywhere?

Nationwide took over Cheshire, Debyshire and Portman which had taken over Staffordshire and Lambeth.
Yorkshire took over Barnsley.
Newcastle took over Universal.

that right? and any others?