I was clearing out some rubbish and i had totally forgotten i had a private pension with Scottish Widows with about £500 in it, i am sure i read an article regarding a possible takeover of them, if that is the case, who took them over and would there be a windfall payment to all customers who qualify, i am slighty off the pace with all this and confused. Have i missed a windfall as the last time they wrote to me was March 2003 and have moved address several times since, your help would be great. Thank You Grant.
2007-10-15 00:36:55 · 3 answers · asked by GRANT B 1 in Business & Finance ➔ Personal Finance
You had to be a member of Scottish Widows at the time and only certain types of product conferred membership rights. Generally, however, pensions were among those. The best thing to do is to write to Scottish Widows - their website is www.scottishwidows.co.uk and that contains their contact address.
2007-10-15 05:52:10 · answer #1 · answered by garstard 3 · 0⤊ 0⤋
Windfall payments went to the account holders of 'mutual societies' (i.e. Building Societies) when they were first privatised (demutualised)
Scottish Widows demutualised and became part of the Lloyds TSB group on 3 March 2000.
If your pension account was in force at that date I believe you should have received at least £500 - write to TSB and ask.
NB.
Scottish Widows is now owned by the TSB Shareholders (not by the account holders), so if it's sold off again, the only people who might get any benefit would be the Shareholders (via a 'special dividend) .. however more than likely TSB would simply use the proceeds to reduce group borrowing (& the shareholders would see nothing).
2007-10-15 04:08:24 · answer #2 · answered by Steve B 7 · 1⤊ 0⤋
They come under the Lloyds TSB umbrella of companies. I'm not sure when they were taken over.
2007-10-15 00:41:25 · answer #3 · answered by Anonymous · 0⤊ 1⤋