Equitable Life to go up for sale in 2008

Liz_the_Whizz

Just read about this on Citywire:

http://www.citywire.co.uk/News/NewsArticle.aspx?VersionID=99742&NewsPage=1

My DH still has a pension with Equitable Life and we are awaiting our IFA's response on where best to transfer it to.

Any views on whether policy holders are likely to get a payout of any sort if it gets sold? Might it be beneficial to hold off any plan to transfer out for now?

HeadInSand_2

I've been with Equitable life for around 8 years now (edit - nearly 9, just working it out, time goes by too fast!), I decided not to transfer out after the last fiasco as they were charging very high penalties for leaving - now I have quite a sizable amount with them (I pay a fair amount into it monthly, which is matched by my employer) - things like this now make me nervous and I tend to "hope things just work out ok" - I may try and be a little pro-active this time and move it. Is moving it a wise decision..?

HeadInSand_2

(PS, what does DH stand for?, thanks)

Milarky

'Dear Husband'

HeadInSand_2

Aha cheers, I'm genned up ready for DW too now then

EdInvestor

HeadInSand wrote: »

I I decided not to transfer out after the last fiasco as they were charging very high penalties for leaving - now I have quite a sizable amount with them (I pay a fair amount into it monthly, which is matched by my employer) -

I'm amazed that anyone is paying new money into the Equitable zombie With profits fund which is almost entitrely invested in bonds.:eek:

I suggest you open another pension immediately and transfer into it.The exit penalty is currently 5%. At the very least you should open a new pension to receive all new contributions and the money from the employer.