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1127869

	registered interest
	date	21/05/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Equitable Life Assurance Society: Compensation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, how many times corrections of payments to Equitable Life policyholders have been made; and what guarantees are in place to ensure that no further errors in the payments and calculation method will be made.
	tabling member constituency	Kettering
	tabling member printed	Mr Philip Hollobone
	uin	257002
	answer	answer is ministerial correction date of answer 04/06/2019 answer text <p>The payment calculation has been examined by a panel of actuarial peers and the Equitable Members Action Group. No errors in the calculation methodology have been identified.</p><p> </p><p>Whilst the Payment Scheme was in operation policyholders could check the input data received from Equitable Life that was used as the basis for their individual calculation. Where an error was found in the records Equitable Life held, a policyholder could request an independent review of their individual payment and where necessary a payment could be recalculated.</p><p> </p><p>The Payment Scheme is now closed. The Payment Scheme’s final progress report set out the numbers of independent reviews conducted and this can be found at: <a href="https://www.gov.uk/government/publications/equitable-life-payment-scheme-final-report" target="_blank">https://www.gov.uk/government/publications/equitable-life-payment-scheme-final-report</a></p> answering member constituency Salisbury answering member printed John Glen question first answered 04/06/2019 06:47:29 answering member 4051 label Biography information for John Glen
	tabling member	1537 label Biography information for Mr Philip Hollobone

1127861

	registered interest
	date	21/05/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Equitable Life Assurance Society: Compensation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will place in the libraries of both Houses the methodology for calculating payments to Equitable Life policyholders.
	tabling member constituency	Kettering
	tabling member printed	Mr Philip Hollobone
	uin	256997
	answer	answer is ministerial correction date of answer 04/06/2019 answer text <p>The methodology for calculating payments to Equitable Life policyholders was published in 2011 and can be found at <a href="https://www.gov.uk/government/publications/equitable-life-payment-scheme-design" target="_blank">https://www.gov.uk/government/publications/equitable-life-payment-scheme-design</a> .</p> answering member constituency Salisbury answering member printed John Glen question first answered 04/06/2019 06:47:46 answering member 4051 label Biography information for John Glen
	tabling member	1537 label Biography information for Mr Philip Hollobone