Equitable Life annuity transfer vote looms

The troubled firm, which was forced to shut its doors to new business in 2000, originally announced the transfer – which involves around £1.8bn worth of annuities – in March this year. The move means Equitable Life will likely be left with a basic with-profits fund, holding about £7bn worth of policyholder assets, which could receive a bid shortly afterwards. A spokesperson for the firm says: “The transfer is now approaching its final stages and, at the beginning of October, Equitable Life will be writing to explain it to over 400,000 policyholders ahead of a vote.” Charles Thomson, chie...