Equitable Life annuity transfer vote looms

clock

Equitable Life is preparing to write to its 400,000 policyholders ahead of a vote on whether it should transfer 50,000 holders of with-profits annuities to Prudential.

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, c...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Franklin Templeton launches enhanced indexing equity fund range for UK investors

Franklin Templeton launches enhanced indexing equity fund range for UK investors

Four funds launched

Michael Nelson
clock 13 April 2026 • 1 min read
Risk Warning Review plans aim to address 'negative framing' of investing

Risk Warning Review plans aim to address 'negative framing' of investing

Lowest investment rate in G7

Alex Sebastian
clock 09 April 2026 • 2 min read
Equity fund outflows hit £1.44bn during war-torn March

Equity fund outflows hit £1.44bn during war-torn March

Calastone Fund Flow index shows

Professional Adviser
clock 09 April 2026 • 2 min read