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Presbyterian Mutual Society: Savers face new financial blow

BBC News Published image captionThe PMS went into administration at the height of the financial crisis in 2008 Some people who invested money in the failed Presbyterian Mutual Society (PMS) are facing losses of tens of thousands of pounds, an MP has claimed. Supervisors have said they will not be able to pay back a £175m loan from the NI Executive. As a result, other creditors have been told that they will receive no more repayments. DUP Strangford MP Jim Shannon said some of his constituents would lose part of their life savings. The PMS went into administration at the height of the financial crisis in 2008.

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