Conundrum for composites
Just when you thought the scandal of with-profits funds could not get any worse, some are sinking to...
Just when you thought the scandal of with-profits funds could not get any worse, some are sinking to new depths of disregard for policyholders.
We all know that, when with-profits providers found that the so-called 'smoothing effect' of with-profits funds had not worked, they moved the goalposts and applied massive market-value reduction penalties to capital withdrawals. But some have not just moved the goalposts - now they have moved the pitch and the stadium too.
One UK-based international
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