Royal London to offer customers 'actuarially fair' GAR swap

James Phillips
clock • 2 min read

Royal London has announced plans to allow customers with guaranteed annuity rates (GARs) to convert their guarantees into a top-up for their pension pot, subject to High Court approval.

The provider said it wants to offer an "actuarially fair exchange" for GARs in a bid to stop policyholders from "throwing away" the value of these guarantees. Around three in five GAR policyhold...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Industry

Nest Insight: 'Volatility premium' impacting millions of households

Nest Insight: 'Volatility premium' impacting millions of households

Income fluctuation leaves many families unable to effectively build savings

Jonathan Stapleton
clock 19 November 2024 • 3 min read
PRAG publishes master trust financial sustainability paper and updates TCFD guidance

PRAG publishes master trust financial sustainability paper and updates TCFD guidance

PRAG publications come ahead of its annual conference this week

Jonathan Stapleton
clock 18 November 2024 • 1 min read
Industry responds to DC and LGPS changes confirmed in Mansion House speech

Industry responds to DC and LGPS changes confirmed in Mansion House speech

Concerns about fewer individuals making decisions, member returns and sustainability

Jasmine Urquhart
clock 15 November 2024 • 5 min read
Trustpilot