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Equitable Life Assurance Society: Compensation

HM Treasury written question – answered on 29th November 2016.

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Photo of Christopher Chope Christopher Chope Conservative, Christchurch

To ask Mr Chancellor of the Exchequer, with reference to the Ministerial Statement of 18 November 2016, HCWS 269, if he will ensure that the £53.9 million due to policy holders who could not be paid will be allocated and distributed among other former Equitable Life policy holders.

Photo of Simon Kirby Simon Kirby The Economic Secretary to the Treasury

As announced in Summer Budget 2015, and after more than four years of operation, the Equitable Life Payment Scheme is now closed. As a result the Payment Scheme is in the process of winding down. I will meet with a delegation of the All Party Parliamentary Group for Justice for Equitable Life Policy Holders.

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