Thousands of PMS members have been unable to retrieve their savings The government is expected to throw a lifeline later to thousands of savers caught up in the Presbyterian Mutual Society crisis.
Investors with the society are hoping for a good outcome in Parliament later.
But they might not get all their money back. The PMS crashed in November 2008, owing almost 10,000 investors money.
Since then, larger savers got 12% of their money back. But those with less than £20,000 saved got nothing.
“We don’t know whether the savers will get all of their money back at this stage and that is our preferred outcome. ”
Jeffrey Donaldson Lagan Valley MP
Last week, Prime Minister David Cameron said he recognised the difficulties in finding a “fair resolution” to the plight of savers.
Speaking during Prime Minister’s Questions, he said details should be finalised by 20 October, the same day as the Spending Review.
On Tuesday, Chancellor George Osborne is expected to announce how much will be lent to the PMS as part of the Comprehensive Spending Review.
Lagan Valley MP Jeffrey Donaldson said that “a fairly good outcome” was expected.
“The indications are that shareholder savers (with less than £20,000) will get a fairly good outcome,” he said.
“But it remains to be seen if it will fulfil the aspirations of PMS savers. The caveat is that we don’t know whether the savers will get all of their money back, at this stage and that is our preferred outcome.
“It depends on whether the Treasury will step up to the mark.”
Mr Donaldson said the deal on the table was expected to be better than what the Labour government had offered.
Thousands of people have been unable to access their money since the society entered administration in 2008.
Last week, Enterprise Minister Arlene Foster said there were two options to help the savers.
The first was a commercial one, which she said would be preferable and would see a financial institution take over the assets of the PMS and continue to run it.
“However, we very much believe – it’s nearly two years now – we cannot wait any longer, we really need to push ahead with plan B which is a government-backed solution consisting of a loan and a mutual access fund.
“So what we’re doing now is we’re waiting to see how much funding we will have for that scheme next week,” the minister said.
She said the commercial option could still take over if a bank steps in in the next couple of months.
The Presbyterian Church and political leaders have lobbied for two years for a method to be found to support savers.
First Minister Peter Robinson and Deputy First Minister Martin McGuinness have held talks on the issue with the Labour government and the current coalition administration.
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