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The Independent on Sunday: Mutuality must not be left to die

Good news for mutuality last week as both the Chelsea and Port-man building societies successfully rejected members’ resolutions to change the rules. Chelsea rejected a demutualisation resolution, while Portman turned down calls for directors to be more open and for salaries to be decided by members … Hopefully, a new report from the Centre for Business Research (CBR) at Cambridge University will be given due consideration by the Government. It argues that mutuality is worth saving, not least because without it, many ordinary investors who need a choice of long-term, low-risk savings plans for their pensions or life assurance are likely to lose out.