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Legacy pre-need victims getting impatient

ABS-CBN News
by ALVIN ELCHICO, ABS-CBN News | 02/10/2009 12:01 PM

Dismayed planholders of Legacy Consolidated Plans continue to submit formal complaints with the Securities and Exchange Commission (SEC).

All of them hope for only one thing – to get their money back or get the full value of their plans.

Legacy planholder Elisa Dalacat, for instance, was led to believe that their memorial service has already been taken cared of by their subscription to a Legacy Memorial Plan.

Now that Legacy as folded, she has asked government to help them recover their money.

“Ang tanong lang po namin maibabalik pa ba ang pera namin at kung kelan?” Dalacat said.

While they appreciate the importance of the congressional investigations, the planholders are getting impatient in finding ways to claim their investments.

The SEC has confirmed that the 330-million peso trust fund of Legacy Plans remains intact.

But the SEC is still determining the exact number of planholders.

According to the SEC, Legacy submitted a list of over 14,000 planholders, but the number may still increase.

Assuming that there are 20,000 planholders in the final count, and that the 330-million peso trust fund is equally divided among them, each of the planholders will receive 16,500 pesos.

But the SEC said the share of the trust fund will depend on the type of plan a consumer has.

“It will be pro-rated – depende sa kung gaano kalaki ang plan ng isang planholder. Parte- parte sila diyan,” said Atty. Gerard Lukban, spokesman of SEC.

According to the SEC, it is already certain that planholders will not get the full amount of their subscribed plans since the company has already closed.

But the SEC is encouraging affected planholders to still submit formal complaints before March 31 so they can be prioritized in the claim process.

Concerned planholders need not go to Manila to submit official documents since the processing may be done in SEC provincial branches.

as of 02/10/2009 12:01 PM

February 10, 2009 - Posted by | Philippine Newspapers/Web News, Planholders Speak | ,

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