Equitable Life transfers

Professional Adviser
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By Ruth Alexander Equitable Life pension plan holders can transfer their with-profit fund to ...

By Ruth Alexander Equitable Life pension plan holders can transfer their with-profit fund to another provider without attracting the 15% financial adjustment if they use a phased income drawdown scheme, according to IFA group Chartwell. Equitable Life has said it will apply a 15% financial adjustment if someone in a drawdown policy wants to transfer the plan to another provider as the group sees this as an early surrender of the fund. However, according to Chartwell, those Equitable members who are not in drawdown and taking benefits, have not purchased an annuity and are past t...

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