IFA Hargreaves Lansdown is producing a series of guides aiming to answer the many questions raised by Equitable Life policyholders over its decision last month to close to new business.
The first guide, Equitable Life. What next?, targets unit-linked and with-profits personal pension policyholders. It is available as a booklet and can also be viewed on the Hargreaves Lansdown website at www.hlpensions.co.uk.
It explains to policyholders their options on a step-by-step basis and provides a choice of contracts for policyholders wanting to transfer out of Equ itable or divert contributions into a new pension plan.
The second guide is for members of company pension schemes and focuses on what questions such policyholders should be asking their emp loyers. It can be downloaded from Hargreaves Lans down's website and a booklet is also being produced.
The issues covered in the guides are in direct response to the enquiries received from policyholders and they try to provide answers to the most asked question: “What should I do next?” Hargreaves Lansdown has taken over 10,000 enquiries from Equitable policyholders and has so far issued about 5,000 copies of its first guide.
Hargreaves Lansdown pensions specialist Mark Row lands says: “The number of queries on Equitable Life is not easing off. We received lots of enquiries over the festive period, even Christmas Eve and New Year's Day.”
A third guide is planned for later this month to answer ongoing queries from Equit able policyholders.