Equitable Life Payout

Legacy_user

My wife and I have purchased our annuities this month by leaving Equitable Life for other annuity providers. After receiving a value of the plans in September I was shocked to receive a final payout £1200 less than the September figure. My wife's final payout was £300 more than the September figure. We both joined Equitable Life in 1989 in the With Profits Fund and we have similar amounts.

Any help or advice on why this may have happened would be gratefully received.

I thought we had lost enough with Equitable Life!!

dunstonh

Any help or advice on why this may have happened would be gratefully received.

You might have heard on the news about the current economic position and the impact it has had. If not, I suggest you read up about the credit crunch.

System

So the credit crunch sends my pension fund in one direction and my wife's in another. If only I'd known.

dunstonh

No. The volatility has been quite extreme some days in both directions. The markets are down heavily but then recovered 20% and the UK market has gone down again. So, just a day or twos difference could have seen it go up or down by quite large amounts.

EdInvestor

BillPen wrote: »

After receiving a value of the plans in September I was shocked to receive a final payout £1200 less than the September figure. My wife's final payout was £300 more than the September figure. We both joined Equitable Life in 1989 in the With Profits Fund and we have similar amounts.

Equitable is a very peculiar animal, even by WP standards. Guaranteed funds and terminal bonuses may not always end up as expected.

I would suggest you ask your question over here where there are some very knowledgable Equitable victims who will no doubt be able to explain.

System

Many thanks, EdInvestor. I am asking Equitable to look into for us but I thought I'd try the forum to see if anyone else had had a similar experience. I will certainly take a look at the forum you suggest.