Pru 'rescues' Equitable policies - Published:08/12/07
The Prudential insurance company has approach to the rescue of 50,000 policy holders with the stricken Equitable existence pension companyUnder the Pru's control these retirement fund policies should benefit from higher investment income in the futurePensioners with these policies saw their pensions slashed after the Equitable narrowly avoided bankruptcy in 2000 when it shut to new business"The suggestion, which will benefit all policyholders, to transfer with-profits pension policies to Prudential is a further major achievement arising from the Society's ongoing review of strategic options," supposed Equitable chairman Vanni Treves"The board has been very aware of the particular difficulties faced by with-profits annuitants and we are satisfied to have negotiated this excellent proposition for them," he addedThe assets of the policies that are being bought amount to £18bn The pensioners - who grasp 62,000 with-profit annuity policies between them - have an average age of 74The unique idea behind these policies was that once the customers had in use an annuity - an annual retirement fund - from the Equitable, the income would not be fixed but might riseThey will become part of an vigorously managed fund, which is one of the largest and strongest in the UKThat was because they would benefit from future investment returns as their cash would continue to be put into a broad increase of investments, rather than just in bondsHowever, the financial disaster at Equitable forced the company to cut the payouts on these policies by 20% and change the fundamental investment strategy so that most of the money was invested in fixed-interest bonds after allevenhanded said this destined its customers with these policies faced shrinking cash payouts each yearNow, under the umbrella of the Prudential, the funds can be invested more daringly with the prospect of greater returns and thus higher and rising payouts to the policy holders"They will become part of an vigorously managed fund, which is one of the largest and strongest in the UK," said Equitable leader executive Charles Thomson"It will also help us in the look for for the best strategic solution for the.
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Prudential named best lifetime mortgage provider - Published:07/11/06
Prudential scooped the award at the MoneyFacts awards, which aims to recognize the best products available to consumersThe company's Property Value Release Plan mortgage option, which may set of clothes customers looking to find a remortgage, was launched one day agoAli Crossley, Prudential's director of life mortgages, states that the award recognised the value for cash which it offers borrowers"It's satisfying to see that Prudential has been recognised as the best provider in the market, offering good value for customers and charitable advisers ground-breaking products to recommend to their clients"Ms Crossley added that the key to the mortgage's value is suppleness, with the manufactured goods leading the market in this respectThe mortgage allows borrowers control over their cash, allowing them to take the released equity when essential, rather than in one lump sum, she concludesnowadays's Most Popular Results Mortgage Enquiry Form Need Life Insurance ------ Mortgages - Information Mortgages - house ------ Financial Services - HomeNone of the information on this website is intended to promote any exact mortgage product or provide mortgage advice Mortgagescouk is a non-regulated trading name of monetary Services Net Ltd[Terms & Conditions]more sites:car cover home insurance | cheap.
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EXCLUSIVE: PRU'S JOBS FEAR - Published:31/10/06
Your Money has learned about 500 labour have been called to meetings in interpretation and Stirling this afternoonWhen Your Money revealed rumours of the campaigning to Amicus national officer Dave Fleming he voiced concern that it could be the begin of a major restructuring"If this is the case, this might be the tip of the iceberg for Prudential staff in the UK," he saidThe Pru clashed with unions previous this year over tactics to close its Belfast call centre as part of a £40million costsaving use The firm later backed down, transferring the workers to Capita, the definite which runs the London traffic congestion system"The meetings are to keep staff up to speed with tactics for Pru Tech and to discuss how it can best hold up the business" But he admitted "one option" being considered was off-shoring jobs to India where the Pru currently employs 1,200 in MumbaiHome | information | Sport | 3am | television & Film | Dating | betting | Money | Downloads | Fun & Games | Motoring | Your Life | Film Store | free time direct | Horoscopes | Jobs | Holidays | Weather | Web & movable | Casino | Ticketmaster | Bingo & Win | House & Home | Mobile | Scottish information and Sport | Northern Ireland information and Sport | Food | Terms and Conditions | Contact Us | Privacy rule.
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Exclusive: Pru's Jobs Fear >>
