Gordon Arthur, group corporate affairs director for Standard Life, said: "Last Monday, the Standard Life Board confirmedits intention to recommend to members that the company should demutualise
and float on the London Stock Exchange, subject to satisfactory completion of all legal, regulatory and other processes.
Mutual Scottish Life - soon to be taken over by Royal London - is also planning to demutualise
. Around 70,000 members who have with- profits policies stand to pocket an average pay-out of pounds 4000.
Will I get a windfall if they demutualise
? - James Harner, Bournemouth, Dorset.
If the Bradford & Bingley is to demutualise
, 50percent of all eligible savers need to vote and, of these, 75percent must vote in favour.
Bradford & Bingley and Halifax are among the high-profile building societies which joined the rush to demutualise
and become banks in the 1990s - and which have now failed, or needed a Government bailout.
But in the mid-1980s the Tories under Mrs Thatcher allowed building societies to demutualise
and become public limited companies instead of mutually owned organisations, owned by the customers who borrowed and saved with the society.
B&B joined the rush to demutualise
in July 2000 - a full 14years after Margaret Thatcher's 1986 Building Society Act, which allowed the societies to become banks if its members agreed.
Shares were worth pounds 2.30 each at their launch on July 10 after Standard Life policy holders voted to demutualise
the previous month.
THE bitter struggle to demutualise
Standard Life reached boiling point this week as staff took to the streets of Edinburgh in a bid to protect their jobs.
I have some money to invest on a monthly basis and fancy taking a couple of savings plans with some of the mutuals with the hope that they will either demutualise
or they will be bought.
More than 1.5million of the Edinburgh firm's members voted 98 per cent in favour of the board's proposals to demutualise
A total of 1,577,788 votes were received by the Edinburgh-based firm on the resolution titled "to demutualise
and float on the London Stock Exchange" - with 1,545,314 being cast for and just 32,474 against.