Standard Life Windfall
 

Just got a letter and pack of boring ****e from them, instructing me that I am liable to receive a shares payment should they float.

Is this taxed at source, or do I have to pay tax by declaring it myself ?

Or should I feign ignorance ?

It is taxed as a capital gain once you sell your shares.

The windfall is likely to be so small as the SLAC management have negligently lost over £15,000,000,000 over the past five years and so squandered the members 'nest-egg' quite brilliantly.

I suspect around £1000 per policy on average so you are unlikely to incur capital gains.

Also as you have posted on a public forum ignorance would be hard to feign, and is not a credible legal argument!!

Rannoch :D

I didn't understand a word of that ;)

So £1000 tax free ay ? :lol1:

It is tax free as long as you sell the shares before you make a capital gain above the personal allowance.

yep - on a with profits plan that wouldnt know a bonus if it fell over one, enjoy it!

Dammit. I got a letter from them saying I wasn't entitled to a windfall :mad:



Why bother? grr!

The pack should tell you roughly how many shares you're entitled do. You get a basic plus extra for the with profits stuff. Think mine was around 400 shares. They seemed to be suggesting they'll float at around the £2 mark.

and me :( Nothing if your pension is with them .

gits

I have a pension with them and am eligible. You did have to pre-register that you wanted the windfall etc and you also have to have been a member for so long etc etc

My pension has been with them for 10 years! :(

Is it with profits or unit linked? It's only with profits that are eligible for the windfall.

as above, only with profits are applicable. and if you have a large with profits pension you could do with a boost!

Lucky B@stard:(.....


































...well done:D;)....

Nearly 400 shares for me:luxhello: at an expected £2.40 - £2.90 a share thats a tidy little sum if they float.
We are only getting part of the with profits pot of money so they will just pay out less when policys muture.
Is anything for free?

424 shares for me.

A 25 year Standard Life with profits endowment with premiums of £50 per month had a maturity value of around £100K in 1999; in 2006 the maturity value is more like £40K.

Part of this difference is down to the fact that interest rates were high in the early years of a policy maturing in 1999 so high annual bonuses were allocated in the early years (and once bonuses are allocated, they can't be taken away). The amount of bonus added each year is based on the sum assured plus bonuses already allocated. Annual bonus rates started dropping in the nineties as interest rates started falling.

Another reason is that Standard Life were heavily invested in equities until 2000/01. As share prices started dropping, they made the decision to sell shares and invest in bonds, which have a lower potential return but the return is guaranteed. As share prices have risen since the start of this year, this looks like a bad decision by them (but would be a good one if share prices plummet).

If you have a Standard Life (or any other) endowment sold to you for your mortgage, have a look at the Which website.

While I won't be telling Standard that I don't want the 761 shares, I'd have preferred the maturity values of a few years ago. ;)

865 shares for me

Shame my pension will be worth jack ****e and the endowment is £15k short

....ooooo, 863!

You could always vote against it. They need over 75% of people to agree to go ahead IIRc.

I'm inclined to vote against, as the windfall payment is hardly anything compared to a long term pension plan. Once the company becomes PLC, it answers to it's share holders and not the people who have policies.

Of course that's a very very simplistic way of looking at it, but experience has taught me that PLC's have different priorities.

And the people at the top who are saying "vote yes" - they don't stand to make personal fortunes out of it do they......

:mad: 225 :mad:

10 year with profits member, as soon as i get my shares, im moving to my company fund :razz: :razz:

We've done quite well from Standard even though my GF and I are only getting just over the minimum amount of shares.

We only took out 2 small With Profits pensions because of the silly way Standard was paying commission on its pensions a couple of years back.

:)

Well i think we should vote no i cant see how a company that pays profits to share holders rather than its members will benefit the members? still i am sure it will work out well for the few at the top ;)