Pensions ruling is the most Equitable

Article Abstract:

Vice-Chancellor Sir Richard Scott has ruled in the UK High Court in favour of Equitable Life's stance on guaranteed annuity rate pensions. He found that the company's decision to reduce final bonuses for people with guaranteed annuity rates in their pensions policies does not go against the pension contracts signed by the policyholders. He also ruled that this decision was made following proper consideration of policyholders' reasonable expectations. It is right that Equitable Life has adhered to its policy of treating all members as fairly and equitably as possible.

Comment:

Discusses court ruling in favor of Equitable reducing guaranteed annuit rates for policy holders

United Kingdom, Laws, regulations and rules, Financial services industry, Financial services, Column, Scott, Richard, Equitable Life Financing Corp.

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Court case threatens halo of woman with the Midas touch

Article Abstract:

The legal battle between Unilever and Merrill Lynch threatens the reputation of pension fund manager Carol Galley. Unilever alleges that Galley and her staff at Merrill Lynch Investment Management were negligent in managing its pension fund in the 15 months to Mar 1998.

United States, Diversified Companies, Unilever Group, Merrill Lynch Investment Managers Ltd., Galley, Carol

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Pensions funds slated over lack of expertise

Article Abstract:

There should be a code of conduct for UK pension funds, according to an investigation headed by Gartmore Investment Management Chmn Paul Myners. The investigation recommends the abolition of the pension schemes' Minimum Funding Requirement.

Reports

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