Management of closed With-profit Funds

The Party has been set up in the context of:

• the FCA thematic review on the fair treatment of with profits policyholders (TR19/3) and the focus on runoff plans being a 'living document'
• a high volume of schemes nearing sunset clauses over the next 3- 5 years
• the increasing popularity of schemes of arrangement as a capital management tool for closed funds.

Key objectives:

To improve customer outcomes for those who have policies in closed with-profits funds

Key outputs:

• Presentation at the Life Conference - November 2022
• Final report published November 2022
• Survey of with profit actuaries - 2021