Equitable Life Assurance Society: Compensation
The question
To ask the Chancellor of the Exchequer, with reference to the Prime Minister's speech entitled Keir Starmer's speech on fixing the foundations of our country: 27 August 2024, whether she plans to increase compensation for people impacted by the regulatory maladministration of Equitable Life.
Answered by Tulip Siddiq
The Equitable Life Payment Scheme has been fully wound down and closed since 2016 and there are no plans to reopen any decisions relating to the Payment Scheme or review the £1.5 billion funding allocation previously made to it. 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.
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