In Reply to: Pension Reduction "Its Your Pension Nov 2002" posted by Keith Sloan on 06 December 2002 at 15:53:23:
: Did I read the latest missive correctly.
I join AVC and I loose 15% transfering out of Equitable Life because it looks like it will default.
Yes you did read it incorrectly because it didn't say that. You haven't lost the 15% because you never had it.
The reality is that EL have been overpaying bonuses. Each year they give an indication of each funds value. This is a mechanism to ensure that people leaving the EL fund don't leave with more than they are currently entitled to.
G.