The Equitable does not believe that any delay is necessary because of the steps it has taken, as outlined above, including the protections that the optionality in the investment choices provides to policyholders.
There is no certainty that Brexit, hard or soft, will occur on January 31st 2020. There has already been two deferrals of the UK leaving the EU from the original date of March 29th.
Any delay in implementing the Proposal would cost extra money, resulting in less capital to return to policyholders. This is because, among other factors, the derivatives that provide the protection would need to be re-set.