Q. I invested into an Equitable Life With Profits Annuity, which was taken in 1998.
During recent years the fund has not increased, but I have now heard that the Prudential are buying this fund. Is this correct, and if so what will it mean for me?
A. You are one of around 62,000 Equitable life policyholders who find themselves in this position. However, yes you are right that the Prudential plan to buy the £1.8 billion annuity fund, although this needs to be voted on and also gain court approval.
Presuming it goes through, it should be good news for you. The financial strength of the Pru should offer greater security, and at least the chance of your pension growing over the years.
If you have any futher queries you can call the Equitable Life helpline on 0800 4080097.
About Ray Prince
