In 2018, we told you that Equitable Life had entered an agreement to transfer the Society and all its policies to ‘Utmost Life and Pensions’ which would result in an increase to their 'with-profits' policies.
On 1 November 2019, the transfer was voted in favour by eligible policyholders. On 4 December 2019, it was announced that approval of the proposed changes has been granted by the High Court.
The proposed changes will be put in to effect on 1 January 2020.
Utmost Life and Pensions have confirmed that from 14 January 2020, affected members can contact them by phone on 0330 159 1531 and they'll be able to confirm the uplift value. They'll also send us the values by the end of January so we can write out to our affected members in early February.
Read the full press release from Equitable Life