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Scot Prov members await windfall decision

Around 450,000 Scottish Provident members will this week find out which of their policies entitle them to demutualisation windfalls.

For those whose policies matured between September 7, 2000 when the takeover was announced and August 1, 2001 when the business was transferred, membership will be re-conferred and compensation for loss of voting rights paid.

Compensation will also given to the estate of any member who died between these dates.

The variable compensation payable to certain with-profits policyholders will calculated by the end of the year, with payments proposed to be made early in 2002.

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