Equitable Life Assurance Society: Compensation

Treasury written question – answered on 10th June 2021.

Alert me about debates like this

Photo of David Warburton David Warburton Conservative, Somerton and Frome

To ask the Chancellor of the Exchequer, if he will publish the detailed calculations, including intermediary steps, used in determining payments under the Equitable Life Payment Scheme.

Photo of David Warburton David Warburton Conservative, Somerton and Frome

To ask the Chancellor of the Exchequer, what steps he plans to take in 2021 to help people affected by the Equitable Life scandal.

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

The methodology for calculating payments to Equitable Life policyholders was published in 2011 and can be found at: www.gov.uk/government/publications/equitable-life-payment-scheme-design.

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: www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.

Does this answer the above question?

Yes0 people think so

No10 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.