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Equitable Life is the first and oldest mutual life assurance company in the UK. It was established in 1762 and was set up and run for its members.
On 1 January 2020, Equitable Life policies transferred to Utmost Life and Pensions, with the exception of Irish and German policies. The Irish and German policies remain with Equitable Life which in turn became a wholly owned subsidiary of Utmost Life and Pensions.
Utmost Life and Pensions is a UK life and pensions company helping customers plan and save for the long term, with roots going back over 100 years. Utmost Life and Pensions is authorised by the Prudential Regulation Authority (PRA), and regulated by the Financial Conduct Authority (FCA) and the PRA.
Facts about the history of the Equitable Life can be found here.
This is the same as the Utmost Life and Pensions Limited Board and can be found here.
Here are links to the Financial Reports:
Annual Report and Financial Statements 2023
Solvency and Financial Condition Report 2023
Annual Report and Financial Statements 2022
Solvency and Financial Condition Report 2022
Annual Report and Accounts 2021
Solvency and Financial Condition Report 2021
Did you know ……
Please note that the value of investments can go down as well as up and you may get back less than you invested. Past performance is not a reliable indicator of what might happen in the future. It is important that you regularly review your unit-linked investments to make sure that they fit your needs and that you are comfortable with the level of risk.
You can find the latest and historical* unit-linked bid prices here.
*to find historical fund prices you should follow the instructions below:
Put a tick next the chosen fund and click on ‘Add to charting tool’ and this will bring up an interactive chart
Click on ‘Chart settings’ and choose ‘Price’
When you move your cursor over the graph a red line will appear and you can move this up and down to see historical prices and the date and the bid price will show at the top of the chart.
To obtain the right information for your policies you will need to choose Equitable Life from the dropdown menu in the top left hand corner (which will show ‘All products’ when you first open the link).
Please click here to find the following information:
The document Principles and Practices of Financial Management (PPFM) explains how the with-profits fund is managed and we also publish an explanation of the latest changes to the PPFM.
The PPFM only applies to UK Style German with-profits policies. A German translation is linked here - Principles and Practices of Financial Management (PPFM).
Following the implementation of the Proposal on 1 January 2020 all other with-profit policies of the Equitable were converted to unit-linked. Irish and German policies remain with the Equitable. The UK and International policies were transferred to Utmost Life and Pensions, which the Equitable is now a subsidiary of.
We publish a report which covers the management of the with-profits fund. This is the Annual report to with-profits policyholders.
We also publish a guide for our unit linked funds which provides information about the funds and their features.
The principal investment of the with-profit fund is managed by J P Morgan.
Environmental, social and governance factors (ESG or sustainability) are integrated into the investment manager’s process.
J.P. Morgan Asset Management (JPMAM) is committed to delivering superior investment performance to its clients worldwide. They believe that explicit incorporation of material Environmental, Social and Governance information in the investment process can help to deliver enhanced, risk-adjusted returns over the long-run. JPMAM have been practicing sustainable investing, in some capacity, for more than 30 years. They became a signatory to the UN PRI in 2007 and are committed to incorporating ESG factors into their investment practices and decisions. JPMAM offer various sustainable investing solutions across asset classes and geographies, and also have an established corporate engagement policy. They expect and encourage the companies in which they invest to demonstrate the highest standards of corporate governance and best business practice. JPMAM examines the share structure and voting structure of the companies in which they invest, as well as the board balance, oversight functions and remuneration policy. These analyses then form the basis of their proxy voting and engagement activity. They manage the voting rights of the shares entrusted to them as they would manage any other asset. It is the policy of JPMAM to vote in a prudent and diligent manner, based exclusively on their reasonable judgement of what will best serve the financial interests of their clients. So far as is practicable, they will vote at all of the meetings called by companies in which they are invested.
We support the incorporation of ESG factors into the investment process by JPMAM.
The with-profits fund is principally invested in a multi-asset fund that provides exposure to a broad mix of assets split between the following investment types:
These percentages are approximate and are subject to change based on investment manager views over time.
The fund charges including the transaction charges for all funds can be found here.
No, we are unable to provide advice and recommend you seek independent financial advice. A financial adviser will inform you of the fee they charge for their service.
Did you know …..
Please note we cannot accept just an email detailing your new address.
A document addressing the key points covered by the Pensions Regulator's general Code of practice can be found here.
In the period 1 January 2023 to 31 December 2023, 95% of payments were completed within 5 working days, 95% of illustrations and 90% of general servicing queries were completed in 10 working days. This information is based on our whole book. We cannot split this down into scheme level or policy type.
If you are a trustee of a Group Money Purchase scheme and you require a copy of the Group Money Purchase scheme rules please contact us.
We do not hold a copy of the trust deed this should be held by your scheme trustees
Here is a link to our Supplementary Auditor Report
Details of our third party processors can be found here.
If you would like to make a complaint there are a number of options available to you and details can be found in our 'How to make a complaint section'.
If you were not able to find above the information you were looking for, you can contact us by phone or by email us at info@equitable-int.com
