Equitable Life: Good Buy?

Equitable Life: Good Buy?

Chairman of Equitable Life Vanni Treves says the society is still looking for a buyer but could happily remain as a standalone business.  He also commented that it has made some major achievements in the past 12 months including transferring £4.6bn of its fixed pensions to Canada Life, the transfer of its University Life Assurance Society to Reliance Mutual and the society’s £1.7bn of with-profits annuities were transferred to Prudential in December 2007.

Charles Thomson chief executive says “The society has continued its steady progress and we now operate like any other closed fund”.

Our view

Equitable Life is a closed company in all but name.  Assets and liabilities have been transferred or sold and sooner or later the remaining parts will be acquired.  

Have you got an Equitable Life plan? Contact us for financial advice.

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