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With-profits face fundamental change under Sandler

With-profits products should be gutted with only the smoothing feature remaining according to the Sandler review team.

While there is still a concept for the savings vehicle, the Sandler recommendations say they would see performance transparent, unnecessary jargon removed and competition pressures more effectively applied in the with-profits arena.

His proposals go much further than the FSA&#39s which only dealt with disclosure of information to consumers, and instead suggest a major structural reform of the way the products operate.

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