Equitable Lifes 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.