Policyholders with Equitable Life have been warned their bonus payments are not guaranteed.
The insurer, which almost collapsed 11 years ago, cut policy values last year. Its latest plans for payouts will reverse these earlier cuts and slightly benefit pension plan holders, but those holding endowment will lose out, reports the Daily Mail. However, Equitable says the bonuses on its £5.5bn with-profits fund are not guaranteed and could be taken away at any time. Pension savers will receive a 3.5% bonus plus a one-off increase of 2%. But after a lengthy battle for compensation from the government, life policyholders face further uncertainty. Life policyholders, with the ...
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