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AIG Life protected recovery fund values rise 14 per cent

AIG Life has seen its £2bn protected recovery fund jump 14 per cent in value since its launch.

AIG Life says the past quarter has been less eventful than previous ones and says that although low interest rates will effect final return of the PRF, the current environment does highlight the strength of the guarantee.

The group is offering a 2012 underpin price which is 20 per cent higher than the August 2009 price.

AIG Life paid out £100m, or just over 5 per cent, to investors in its protected recovery fund on June 6.

By mid-December last year 95 per cent of investors in the enhanced fund, which was suspended on September 15 2008, chose to transfer half their assets into the protected recovery fund, with the other half taken as a cash lump sum.



MPAA consultation

By Fiona Tait, pensions specialist The chancellor’s announcement of proposed cuts to the Money Purchase Annual Allowance means it will be more important than ever to be able to tell your PCLS from your UFPLS What was in the statement? Not much. The chancellor spared three sentences to inform us that the Money Purchase Annual Allowance will be reduced […]


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