Alaric wrote:More complications would be introduced if longevity insurance was introduced in some manner.
Addressing this matter is my main reason for thinking such schemes are necessary. After all, this was addressed in the past via DB pensions or alternatively via annuities. Now? Under "Pension Freedom"? Just poke and hope...
Alaric wrote:A simple way of doing this would be that the shares were forfeited on death and their value distributed amongst the living.
As in a classic DB pension scheme or an annuity.
Alaric wrote:It's be no means easy to devise a system to do this that's both fair and seen to be fair. There's past use of With Profit funds, but the experience of Equitable with their "With profits annuity" isn't confidence boosting.
Not sure of all the facts here, but was that not due to a variety of factors, including perhaps, running different kinds of "funds" for different people out of a central fund?
Keep It Simple!