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Equitable Life Assurance Society

Treasury written question – answered on 13th January 2020.

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Photo of Stephen Morgan Stephen Morgan Shadow Minister for Local Government (Communities)

To ask the Chancellor of the Exchequer, what steps his Department is taking to support people affected by the closure of Equitable Life.

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

After nearly 5 years of operation which saw over £1 billion paid to nearly 1 million affected policyholders, the Equitable Life Payment Scheme closed to claims in 2015. 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. There are no plans to reopen the Payment Scheme or review the funding allocation made to it.

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