In 2018, Equitable Life announced its intention to transfer With Profits policies to Utmost Life and Pensions. The proposal was subject to policyholder, regulatory and Court approvals, and final approval was confirmed on 4 December 2019.
Some members of the Fund currently have Additional Voluntary Contributions (AVCs) invested with Equitable Life, as part of a group policy in the name of the Trustee. These members will be contacted individually about what the transfer means for them but they do not need to do anything at this point.
You can see more detail about the proposal and approval process on Equitable Life’s website: https://www.equitable.co.uk/ProposalAug2019/index.html#latest-news