Equitable Life and Prudential apparently had talks last week regarding the future of Equitable's with profit annuity holders. Their talks included Prudential taking over all with profit annuity holders from Equitable Life. Apparently, other providers had thought about it but were concerned with the amount of problems Equitable has. Talks are continuing at this stage but a transfer from Equitable to Prudential would mean the fear of Equitable's insolvency would be removed.
OUR TIP:
Equitable Life are still on a knife edge but have managed to meet the required solvency rules. If you are concerned about your Equitable Life pension or investment, contact us for a review and independent financial advice. Search the news archive for stories on Equitable Life or Prudential.