Equitable Life Assurance Society: Compensation

Treasury written question – answered on 16th April 2019.

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Photo of Laura Smith Laura Smith Shadow Minister (Cabinet Office)

To ask the Chancellor of the Exchequer, if he will (a) undertake a review of the compensation afforded to people affected by Equitable Life and (b) issue guidance on recourse available to people affected in Crewe and Nantwich constituency that have (i) not been paid and (ii) received insufficient compensation.

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

There are no plans to reopen the Payment Scheme or review the £1.5 billion funding allocation previously made to it. The Equitable Life Payment Scheme closed to claims in 2015 and further guidance on the status of the Payment Scheme after closure is available at https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.

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