Written question asked by Elfyn Llwyd (Plaid Cymru) on Tuesday, 2 November 2010, in the House of Commons. It was due for an answer on Monday, 8 November 2010. It was answered by Mark Hoban (Conservative) on Monday, 15 November 2010 on behalf of the Treasury.
Equitable Life Assurance Society: Compensation
- Question
- To ask the Chancellor of the Exchequer pursuant to the written ministerial statement of 20 October 2010, Official Report, columns 54-56WS, on the Equitable Life Payment Scheme, for what reason with profits annuitants with Equitable Life who opened their policies before 1 September 1992 will not be recompensed for their relative losses.
- Answer
-
[holding answer 8 November 2010]: This Government are committed to implementing the Parliamentary Ombudsman's recommendation to introduce a fair and transparent payments scheme to Equitable Life policyholders for their relative loss as a result of regulatory failure. With Profits Annuitants (WPAs) who took out policies before 1 September 1992 did so before any maladministration could have affected their decisions, so suffered no relative loss and therefore have not been included in the Government's proposed payment scheme.
Secondary information
- Type
- Written question
- Reference
- 22434; 518 c615W
- Session
- 2010-12
- Related items
- Subjects
- Compensation Equitable Life Assurance Society
- Link
- View this Written question on www.publications.parliament.uk
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- Timestamp
- 2020-08-07 12:28:07 +0100
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