With-profit funds allocated 100% of surplus - Sandler products part 10

All declared surplus of with-profits funds should be put into the policyholders' funds, a separate smoothing account should be established, and funds could look at adding a guarantee, under the government's proposals for a range of simplified financial products. The same three controls for Sandler's proposed investment products will be applied - simplicity, risk-control and charge controls - however additional four requirements are also being recommended, including the creation of a second type of with-profits modeled product carrying a guarantee rather than an Market Value Adjustment ...