If your annuity has transferred to Legal and General

We recently agreed to sell and transfer a significant part of our remaining annuity business to Legal and General Assurance Society Limited (Legal and General). The High Court approved the transfer of annuity business from Scottish Equitable plc to Legal and General on 30 August 2017 and in accordance with the terms of the Scheme, these policies were transferred to Legal and General on 22 September 2017 (Transfer Date). 

This transfer will not affect the way in which your policy will be administered, although provision of the administration services has moved from Scottish Equitable to Legal and General’s administration teams.  

Legal and General will write shortly to all transferring policyholders with new contact details however if you have any questions relating to your annuity or questions relating to the welcome letter, then please contact Legal and General direct. The relevant contact details are shown below:

Phone:

01737 375 151

Calling from abroad:

+44 (0) 1737 375 151

Postal Address:

CPS Admin
P O Box 809
Cardiff
CF24 0YL

There will be no change to your policy Terms and Conditions as a result of the transfer.

Legal and General is part of the Legal & General Group plc, which is one of the world’s largest insurance and investment management companies managing over 900,000 annuities in payment and its senior management team has considerable experience and expertise in managing annuity business. Read more about Legal and General(Opens new window).

The transfer won’t affect the terms and conditions of your annuity policy. There will be no changes to your benefit levels, payment timings or frequency and any guarantees and the basis of any escalations that apply to your policy will stay the same. 

You won’t need to make any changes or take any action in relation to your policy as a result of the transfer.

Please make sure you understand what this means for you – there’s more information if you need it – see our important documents in the box below.

The Chief Actuary and the With-Profits Actuary of Scottish Equitable plc, as well as the Chief Actuary and With-Profits Actuary of Legal and General have each written their own reports on the effects of the proposed transfer on the companies and on policyholders.  You can access the full reports of the Scottish Equitable actuaries and other useful information in the box below. Copies of the Legal and General Chief Actuary and With-Profits Actuary reports are available on the Legal and General website(Opens new window)

Details of the proposed transfer are contained in a legal document called the ‘Scheme’. The content of the Scheme is summarised in the Scheme Summary 


UK documents for those transferring to Legal and General

Documents applying to Jersey policyholders

  • Jersey Representation - details of the Jersey Representation of the proposed transfer to Legal and General for Jersey policyholders 
  • Jersey Scheme - full details of the proposed transfer to Legal and General for Jersey policyholders
  • Jersey Scheme - full details of the proposed transfer for Jersey policyholders transferring to Legal and General – Updated August 2017 – showing amends
  • Jersey Scheme - full details of the proposed transfer for Jersey policyholders transferring to Legal and General – Updated August 2017

Documents applying to Guernsey policyholders

  • Guernsey Scheme - full details of the proposed transfer for Guernsey policyholders transferring to Legal and General
  • Guernsey Scheme - full details of the proposed transfer for Guernsey policyholders transferring to Legal and General – Updated August 2017 – showing amends
  • Guernsey Scheme - full details of the proposed transfer for Guernsey policyholders transferring to Legal and General – Updated August 2017

Questions and Answers

Sample letters

The Chief Actuary of Legal and General has also written their own report on the effects of the transfer. Their report can be read on the Legal and General website(Opens new window).

Please note that Aegon take no responsibility for the content of external sites.