Royal London to offer customers 'actuarially fair' GAR swap
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 policyholders...
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