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Equitable welcomes court case result

Equitable Life has welcomed the High Court judgement on Guaranteed Annuities.


The mutual life office has particularly welcomed the decision by the court that the directors have discretion which is “well wide enough” to grant final bonuses on an amount conditional on the form in which benefits are taken by the policyholder.


It also welcomes the ruling that there is no “PRE” or policy holders reasonable expectation and that Equitable&#39s approach does not deprive policyholders of part of their asset share.


Managing director Alan Nash says: “The Society holds just one pot of money on behalf of its with profit policyholders and it is fair and rightful division of that pot between our policyholders that is and always has been our concern.”

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