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Equitable deal out this week

Equitable Life’s compromise scheme to settle its guaranteed annuity liabilities will be published on Thursday.

It is expected Equitable will offer gar holders a one-off uplift of 20 per cent in exchange for giving up their guarantees, which are currently crippling the fund. Policyholders without guarantees are also likely to be offered a sweetener to give up mis-selling claims.

Equitable will be holding roadshows to explain the deal in October. The final deal is expected in November, with voting planned in December.

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