Equitable Life: Compensation

Part of Treasury – in the House of Commons at on 20 October 2020.

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Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

The Government continue to pay out to annuitants who were in payment from 2010. Indeed, we have a £100 million contingency to ensure that they are properly provided for. The Government were completely transparent about the calculation methodology and worked with the action group, the Equitable Members Action Group, to give explanations to policyholders. We met actuaries to ensure that it was as fair as it possibly could be, so the Government’s position on this remains as I have stated.