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Windfalls waiting for thousands of missing Standard Life expat customers
| Published: | 31 Oct at 6 PM |
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Tens of thousands of former Standard Life customers have been missing out on a share of the huge cash pile distributed by the company when it went public eight years ago.
The former mutual insurance and pensions company has tracked down the vast majority of the 2.5 million customers who were entitled to a part of its massive multimillion payout in 2006. However, 73,000 are still untraceable, with Standard Life believing that many are expats who didn’t inform the firm of their change of address.
The average amount due to each of the missing customers is £3,000, although one lucky person somewhere in the world is due a windfall of £120,000. The total amount, based on the number of shares allocated to life and pension policy holders when the company went public, is being held on the Unclaimed Assets Register, and the time allowed to make a claim expires on 9 July, 2016.
According to Standard Life spokesman Paul McKenna, the firm is upgrading its efforts to trace everyone to whom it owes money using a targeted publicity campaign. Those with known addresses will be contacted during the next several months, but everyone who holds a life or pension policy with a start date predating 2006 is urged to contact the company to check if they have a claim.
The former mutual insurance and pensions company has tracked down the vast majority of the 2.5 million customers who were entitled to a part of its massive multimillion payout in 2006. However, 73,000 are still untraceable, with Standard Life believing that many are expats who didn’t inform the firm of their change of address.
The average amount due to each of the missing customers is £3,000, although one lucky person somewhere in the world is due a windfall of £120,000. The total amount, based on the number of shares allocated to life and pension policy holders when the company went public, is being held on the Unclaimed Assets Register, and the time allowed to make a claim expires on 9 July, 2016.
According to Standard Life spokesman Paul McKenna, the firm is upgrading its efforts to trace everyone to whom it owes money using a targeted publicity campaign. Those with known addresses will be contacted during the next several months, but everyone who holds a life or pension policy with a start date predating 2006 is urged to contact the company to check if they have a claim.
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