FSA discusses myths on closed book with-profits

Details of the report, issued today, are targeted more at the life insurance industry, how it should continue to manage information and keep consumers up-to-date with any changes to the fund. But what the report attempts to do is tackle policyholders calls for compensation from some with-profits providers, as the FSA points out not all with-profits funds are automatically poor performers as a handful of funds are actually better performers than some open with-profits options. “Consumers should not assume that, just because they have a policy in a closed fund, payouts and future bonuse...