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Equitable Life Assurance Society: Compensation

Treasury written question – answered on 27th April 2020.

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Photo of Matthew Offord Matthew Offord Conservative, Hendon

To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of (a) increasing and (b) making additional Equitable Life compensation payments people who made losses as policyholders with that company.

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.

Does this answer the above question?

Yes2 people think so

No6 people think not

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