Abbey with-Profits Savers Fear They'll Be Left in the Cold ; Financial Mail

Summary

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Policyholders with Abbey-owned life offices Scottish Mutual, Scottish Provident and Abbey National Life face more uncertainty after last week's announcement that Abbey will be sold to Spanish group Banco Santander.

The three insurers have 850,000 withprofits savers between them, most of whom are stuck with plans that pay no bonuses and have dire prospects but have funds totalling Pounds 28 billion.

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Extract

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Abbey with-Profits Savers Fear They'll Be Left in the Cold ; Financial Mail

Hefty penalties make it difficult for investors to get out. Scottish Mutual withprofits bond holders...

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