Equitable Life - 35% capital distribution

[55palfers]

Many years ago, I took out an EL pension.

The oldest Mutual in the world apparently - what could possibly go wrong?

A bit of the Micawber in me means I have a reasonable wedge still with them.

Just had a letter urging me (strongly urging even) to take some financial advice asap.

Seems that due to economic conditions and low interest rates the 35% capital distribution may be suspended at any time.

Is this the time to just cash in and run away?

Bang the wedge into HL drawdown?

[megaphone]

Do you have a pension pot with them? Or are you already receiving a pension via annuity?

[55palfers]

A pot.

[Ean218]

I have kept my original "pot" with EL through thick and thin and now thick again.

They are obviously in run off and will jump at any excuse to get members to cash in.

However as one of the youngest members when it originally went pop I see it now as a splendid Tontine and so far seem to have been proved correct. Also as I hadn't stashed away tons at the time it is not a vastly significant part of my pension money anyway.

[sidicks]

Ean218 said:

I have kept my original "pot" with EL through thick and thin and now thick again.

They are obviously in run off and will jump at any excuse to get members to cash in.

However as one of the youngest members when it originally went pop I see it now as a splendid Tontine and so far seem to have been proved correct. Also as I hadn't stashed away tons at the time it is not a vastly significant part of my pension money anyway.

Clearly it depends if you have a unit-linked or with-profit policy!

[Ean218]

With profit (or loss....)

[sidicks]

Ean218 said:

With profit (or loss....)

I assumed you did, since you mentioned 'tontine', but was thinking about the OP!