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

Budget 26: Stamp Duty on shares to be swapped for Securities Transfer Tax

Budget 26: Stamp Duty on shares to be swapped for Securities Transfer Tax

By late 2027

Patrick Brusnahan
clock 28 October 2026 • 1 min read
Investment tax relief rises by smallest amount in four years amid recent Budget measures

Investment tax relief rises by smallest amount in four years amid recent Budget measures

Bowmore Financial Planning research

Jack Roach
clock 28 October 2026 • 2 min read
Defaqto to launch rating for newer funds and portfolios

Defaqto to launch rating for newer funds and portfolios

Combines Defaqto and RSMR expertise

Jen Frost
clock 27 October 2026 • 2 min read