Equitable Life lawyer transferred pension 'days' before Lords ruling - papers 26 April

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Equitable Life QC Jonathan Sumption transferred £700,000 of his pension out of the company just days before the House of Lords ruling in 2000, The Daily Telegraph writes.

The move came after a review of Sumption’s pension arrangements by financial advisers Robert Fleming Benefit Consultants, which resulted in a transfer order sent to Equitable just one week before the ruling was handed down. The Telegraph quotes Sumption as saying: "As counsel for policyholders with guaranteed annuities, I had no information about Equitable Life's affairs that was not public knowledge. The company's case in the House of Lords was that they were in good financial health whether they won or lost, and I assumed that to be true. I had no information about the contents of the ...

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