Forum for former BBC staff

Forum for former BBC staff
http://www.ex-bbc.net/cgi-bin/yabb/YaBB.pl >> Pensions >> BBC AVCs & Equitable Life http://www.ex-bbc.net/cgi-bin/yabb/YaBB.pl?num=1529165322 Message started by apcwmwl on Jun 16^th, 2018, 4:09pm

Title: BBC AVCs & Equitable Life
Post by apcwmwl on Jun 16^th, 2018, 4:09pm

I, and I suspect many others, were enrolled in the BBC Pensions AVC fund, & many will have signed up with Equitable Life. I eventually got back about 75% of my subs when they were transferred to Canada Life as an annuity ( the law at the time). However, when I left Auntie and became freelance, I continued to pay into Equitable as a with-profit pension fund. My total on retirement was about £32,000 (AVC + Private) and the whole of what was due less EL losses was transferred to Canada Life as Annuity. Now comes the revelation that EL has transferred all assets to Reliance at a substancial cost, indicating that each old EL member should benefit to the tune of about £6,000.
I'll believe it when I see it, but I hold my breath - or maybe not!
Any comments?