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Equitable Life Assurance Society: Compensation

Treasury written question – answered on 17th October 2011.

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Photo of Andrew Rosindell Andrew Rosindell Conservative, Romford

To ask the Chancellor of the Exchequer what recent discussions he has had with former investors in Equitable Life on the length of the compensation scheme.

Photo of Mark Hoban Mark Hoban The Financial Secretary to the Treasury

In accordance with the 2010 spending review, and the Equitable Life Payment Scheme Design published in June this year, the scheme intends to make all payments it can to non-with profits annuity policyholders—including estates—by April 2014.

It is intended that the scheme will remain open to make ongoing payments to eligible with profits annuity policyholders beyond this point.

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