News and blog

Equitable Life

Word is coming through that the Treasury has sent the first compensation cheque to Equitable Life policyholders as part of the £1.5 billion three-year payment plan which it has agreed.

Word is coming through that the Treasury has sent the first compensation cheque to Equitable Life policyholders as part of the £1.5 billion three-year payment plan which it has agreed.

The Treasury has outlined plans to pay out compensation totaling £500 million to policyholders of Equitable Life in the first year of the compensation scheme, which was established in May of this year. Older policyholders and the estates of deceased Equitable Life members have been identified as the priority for compensation, according to the Treasury.

The Treasury has agreed to contact all policyholders eligible for compensation before June 2012 for information about their personal status.

Mark Hoban MP, financial secretary to the treasury is quited as saying ‘After a decade of delay and indecision, I am delighted that today we’re beginning to send out cheques to eligible Equitable Life policyholders. We will pay out £1.5 billion to ensure that policyholders receive the justice they deserve,’. 

Hide comment form Hide comment form
 
  • 1000 Characters left
   
 

Bookmark This

RIS Tweets

Chancellor George Osborne sets date for next Budget https://t.co/IQYPKD5Rh0 https://t.co/EYAqyzRfAf
'Degree needed' to fathom financial small print https://t.co/WFVSUdgUO1 https://t.co/bpNyPQ7Nnd
Older borrowers may be offered mortgages into their 80s and 90s https://t.co/XkPykV0TUR https://t.co/AqKZwmxMRO

Contact us

Retirement and Investment Solutions
5 Lancer House, Hussar Court
Waterlooville
Hampshire, PO7 7SE

T: 01489 878300
F: 0870 0104883
E: advice@retirementis.co.uk