Equitable pension values suffer 5% fall

Meeting Equitable Life's guaranteed annuity responsibilities has led to a 5% reduction in general pension policy values and a 4.5% reduction in life policy values. The losses were highlighted in a report conducted by B&W Deloitte into whether certain categories of former non-GAR policyholders are financially disadvantaged because of the group's GAR problems, in that policies were missold to them. In response to the report, Equitable Life is to examine a compromise scheme for eligible former policyholders to end the outstanding GAR problem. The study covered policyholders who left...