Equitable Life Assurance Society: Compensation

Treasury written question – answered on 10th September 2018.

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Photo of Jared O'Mara Jared O'Mara Independent, Sheffield, Hallam

To ask the Chancellor of the Exchequer, if he will revise upwards the level of compensation paid to people who experienced financial loses as a result of the mismanagement of Equitable Life.

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

Around £1.5bn tax free has already been allocated to the Equitable Life Payment Scheme, which closed to new claims in 2015. There are no plans to reopen the Payment Scheme or to allocate further funds to it.

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