Article preview: The policyholders have spoken! Former Scottish Life policyholders who owned pension policies with a guaranteed annuity rate have voted to accept an offer from Royal London. The offer sees policyholders giving up their guaranteed annuity rates in return for an uplift in the value of their pension pots. Around 15,000 former Scottish Life policyholders voted as part of the exercise. This represents about half of the total number of policyholders being offered a pension uplift in exchange for giving up guarantees.
Giving up guaranteed annuity rates in return for a pension uplift
This 551 word blog post explains the outcome of an offer made by Royal London to former Scottish Life policyholders to give up their guaranteed annuity rates in return for a pension uplift. Includes an expert comment from Steve Webb, Director of Policy at Royal London. Written on 11th December 2018.
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