Dear Mr Nichols
I refer to your email below and your letter of 19 August and apologise for the delay in this reply.
By way of update, Legal & General and AEGON are currently undertaking a data checking exercise, which is due to finish on the 26th August 2011. Assuming we get the all clear on the accuracy of the data, in accordance with the current timetable, members' benefits will be bought out and a top up payment received from the Japanese parent company by 10 October 2011. If there are still problems with the data, we understand that this may put this timescale back to next year as the scheme would miss its "slot" with AEGON. Given the history of difficulties and inaccuracies with L&G's administration, I have been keen not to make commitments I cannot keep. Accordingly, once we have confirmation on the status of the data (which should be later this week), we will advise you of the timescales for concluding the wind-up process and issuing of policies to members.
You already have a copy of the guarantee given by the parent company. Whilst I sincerely hope that there will not be any further data driven delay, I would remind you that the presence of the guarantee means that members should not suffer any financial loss.
Yours sincerely.
Philip W. Sutton
It would appear the data check earlier either wasn't sufficient, failed or has been totally forgotten! I will be asking further questions.
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