Windfalls at NU 'not for sharing' by Finance News Bulletin

Published: 15/02/07

News Companies & markets Investing authority portfolio Campaigns Mortgages & homesMortgage featuresInsurance Consumer advice Broadband & phones departure Saving & banking Credit & loans little business Tax & wills Message boards cash blog Tools & calculators Ask an expert Guides contrast & buyNorwich Union with-profits policyholders, in line for possible windfalls averaging as much as £2,000, do not want to share their payouts with anyone else

ALL OURS: Norwich Union policyholders have said they should advantage from with-profits windfallsTAKE PART IN OUR SURVEY Tell us what you think of This is Money and assist shape our future (you could even make £35)A ONE-MINUTE MAKEOVER If you only have one minute to learn how to sort your finances, forget the relax and read this>> Our 8-step planThose who stand to advantage under the carve-up of £4bn of extra assets currently locked up in NU's with-profits money have been consulted for their views on windfalls and how they should be distributedThey have overwhelmingly rejected suggestions that sure groups of other policyholders - for instance mortgage endowment savers or those whose tactics have lately matured - should get windfallsThe research has been undertaken by Clare Spottiswoode, the policyholder advocate appointed to stand for NU clientele' interests

On Thursday, she conducted the last of six roadshows held nationwide More than 200 policyholders gathered at a site in London's West End to vote on a figure of controversial issuesOne question was: 'Should policyholders whose bonuses were poor, but whose plans have matured in the history few years, get windfalls'Of those present, only 25% voted all right compared with 62% who supposed no

Spottiswoode supposed this was consistent with previous pollingWith the consultation era now over, her job is to negotiate a deal where policyholders get a pale cash payment in swap for relinquishing their future rights to the £4bn cash© 2007 linked Northcliffe Digital Ltd conditions Privacy policy Advertise with us LoansCardsMortgagesInsuranceCompare the best deals around with This is Money

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