Standard Life plc is reminding people that there is now less than 5 months to go for those who have still to claim their entitlement following the demutualisation of The Standard Life Assurance Company in 2006.
When Standard Life demutualised in 2006 it had around 2.4 million policyholders with an entitlement to cash or shares. Of these, some 306,000 failed to make a claim. Since then, Standard Life plc has been working to unite those still to claim with their assets and has made substantial inroads through a series of campaigns which are ongoing. These have helped to reduce the number of people who have still to make a claim to 2.5% of all those who had an entitlement.
Around 38,000 people in the UK have still to claim their entitlement and the average share claim is likely to be equal to around £1,192*.
Commenting, Kenneth Gilmour, Group Company Secretary, said:
"We've been working hard to trace those who have a valid claim and have tracked down the vast majority. However, there are still some people eligible who have not claimed and our efforts are continuing. We would urge anyone who has been contacted by our Registrars, Capita Asset Services, to respond before time runs out on 9 July this year."
Who is eligible?
Those who applied for a with profits policy with The Standard Life Assurance Company by March 2004 and the policy was in force in May 2006 may be eligible. The last date for claims is 9 July 2016.
How to claim?
Capita Asset Services is providing a fast track service for anyone who has a valid claim. They will handle the claim, for an administration fee of 15% plus VAT which will be deducted from any cash or dividend entitlement and can be contacted on 0345 608 1478# or +44 (0)20 3471 6853#. Alternatively, anyone claiming can contact Standard Life Shareholder Services directly on 0345 113 0045# or +44 (0)20 3367 8224#. This service is free of charge. Telephone lines for both services are open 8.30am-5.30pm, Monday to Friday. People can also find out more information on standardlife.com/shareholders
* Based on the share price at 31 January 2016 of £3.635, plus dividends.
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When The Standard Life Assurance Company demutualised, eligible members were given a fixed allocation of 185 shares, plus an allocation of variable shares relating to the size of their with profits investments and how long they had held these investments.
About Standard Life
• Standard Life is an investment company with over 190 years’ experience of helping people invest and manage their money.
• Standard Life employs around 6,500 people internationally – through businesses in the UK, Europe, North America, Asia and Australia.
• Around 4.5 million customers and clients across 46 countries trust Standard Life with their financial future and Standard Life is responsible for the administration of over £300 billion of their assets. Standard Life also supports over 25 million customers through Indian and Chinese associate and joint venture businesses.
• Standard Life Investments actively manages over £253 billion worldwide, offering global asset management expertise with strong investment capabilities and performance.
• Standard Life plc is listed on the London Stock Exchange with around 1.2 million individual shareholders and is one of the top 500 companies worldwide, by revenue, as listed in the 2015 Fortune Global 500.
• Wherever Standard Life operates in the world, it is motivated by a sense of responsibility. That is what has helped it be a sustainable business over the long term. Standard Life is proud to be listed as a leader for corporate sustainability in its industry in the Dow Jones Sustainability Indices (DJSI World and DJSI Europe).
• You can follow Standard Life on www.twitter.com/StandardLifeplc
All figures in the notes to editors about Standard Life are at 31 December 2015.