Equitable Life Assurance Society: Compensation
The question
To ask the Chancellor of the Exchequer, how many Equitable Life members are still waiting for compensation.
Answered by Torsten Bell
The Equitable Life Payment Scheme has been fully wound down and closed since 2016. The only remaining part of the Payment Scheme in operation is the annual payments made to eligible With-Profit-Annuitants and the Scheme is on track to distribute the remainder of the £1.5 billion originally allocated as planned.
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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