Thread: Refunds from 5YTP

Dear All,

Does anyone know (seriously) when the $1350(5YTP) will be refunded to Picpay.

I have sent tickets to them which they have not answered.

I don't know who else to ask.

Also how do we get back the $1000 from the position in the 3% pool from DBR that also has closed.

Those refunds would buy 54 units - not to be sneezed at.

Any answers anyone or do we have as usual to wait and see. This is NOT the same as the WD problem, we spent our Picpay funds in good faith not our fault that the two programmes were suspended/cancelled.

Any help would be appreciated, thanks in advance.

Galadriel

As it looks like your in DBR, check the DBR forum you will see some answers there. It looks like they will at some point give the 5yr refunds first and then after that is sorted give the pool refunds, I dont think we will be seeing the pool refunds any time soon!
Its going to be a long process. :roll:

What is the link to the DBR-forum?

Originally Posted by donaltt

What is the link to the DBR-forum?

Here it is:

http://www.rolclub.com/viewtopic.php?t=746

i was not aware that the five year program was a pooled fund.....why was it canceled?

Look in your back office :D

What do you mean by "the Back Office" and where do I find it?
Thanks.

The 5 YTP is not a pool . It was a trust that was held in New Zealand, it had nothing to do with a pool. Even if the plan failed it was stated quite clearly that the initial payment would be refunded and was therefore quite safe. If you recall companies were looking t it to give to their employees an option to replace pension (a lovely company perk)

There was a big problem with getting the insurance to cover the trust and this is probably why it has been cancelled, it was a shame because in essence it was wonderful scheme,sadly it is yet another example of poor organisation. In the long term it could have been better than the 2% which is terrible high risk as we all know.

So folks those of us who paid out would like our payment back please!

Galadriel

Originally Posted by tweedy48

What do you mean by "the Back Office" and where do I find it?
Thanks.

Your back office is your account in PIPS where you will find the news from the company, your profile, your loan overview and so on...... :D

Thanks Shell... and that is where we also look for the current news about programs I assume.