HUNDREDS of pensioners within the Equitable Life Trapped Annuitants action group who face impoverished retirements, following the near-collapse of Equitable Life, now have plans troubled insurer over their losses, says the Times .
Bristol lawyers Clarke Wilmott have been hired to head up that legal suit on behalf of Equitable policyholders with annuities, which are now to mass 55,000 in number. Those people who cannot pull out of Equitable because they already hold annuities are thought to have suffered losses worth as much as 40% of their original investment and Charles Thomson, chief executive of Equitable, has admitted they will lose yet more over the next decade. Around 700 people have responded to a call for pensioners to join a class action and build a fighting fund of around £500,000 in time to begin pro...
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