Equitable late joiners to receive payout - FOS

Details of the FOS lead case decisions concerning complaints about the loss of Equitable Life with-profits payouts reveals those who joined the society after September 1998 will receive compensation for the loss to their investments, as they were not informed of the impact guaranteed annuity rates would have on their policies. That said, the decision does not extend to all late joiners of the society as payouts will only be made to those around 1,500 who complained and did not accept the compromise deal offered on February 8 2002, as the complaints fall under the terms of the Personal In...