With-profits clarified

If you remain confused about the whys and wherefores of the with-profits policy, an investment vehicle that has come under the spotlight in connection with questions over the mis-selling of mortgage endowments and the problems faced by Equitable Life pension-holders, an FSA publication seeks to help. Published in October,“A Description and Classification of With-Profits Policies” is intended to serve as a reference paper which explains the practices and principles. Related material will appear in a number of Discussion Papers that will be disseminated as part of the With-Profits Review.