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178836

registered interest
date	10/02/2015
answering body	HM 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 Mr Chancellor of the Exchequer, what plans he has to review the level of compensation paid to Equitable Life policy holders; and if he will make a statement.
tabling member constituency	Gedling
tabling member printed	Vernon Coaker
uin	223969
answer	answer is ministerial correction date of answer 26/02/2015 answer text <p>The Government accepted all the Parliamentary Ombudsman’s findings of government maladministration and established the Equitable Life Payment Scheme. Taking into account of the state of the public finances, to be fair to both policyholders and tax payers, the Government allocated £1.5 billion to fund payments to around one million Equitable Life policyholders. At 31 January 2015 payments surpassing £1 billion have been issued to 896,367 policyholders.</p><p> </p><p> </p><p> </p><p>The Government is focussed on making the remaining payments to eligible policyholders and has no plans to increase the levels of funding available to the Scheme.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 26/02/2015 16:59:40 answering member 4117 label Biography information for Andrea Leadsom
tabling member	360 label Biography information for Lord Coaker

177791

registered interest
date	04/02/2015
answering body	HM 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 Mr Chancellor of the Exchequer, how much has been paid in compensation to Equitable Life policyholders since the establishment of the compensation scheme; and by what date the full £1.5 billion of that scheme will be paid out.
tabling member constituency	The Cotswolds
tabling member printed	Geoffrey Clifton-Brown
uin	223419
answer	answer is ministerial correction date of answer 10/02/2015 answer text <p>As of 31st October 2014 the Equitable Life Payment Scheme had paid £990m to 887,061 policyholders. A further progress report will be published shorty. As With-Profits Annuitants receive a payment for the duration of their annuity, the Scheme is expected to continue making payments for some years to come.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 10/02/2015 16:37:28 answering member 4117 label Biography information for Andrea Leadsom
tabling member	249 label Biography information for Sir Geoffrey Clifton-Brown