Equitable Life: compensation scheme - Commons Library Standard Note

Published 31 July 2013 | Standard notes SN05971

Authors: Tim Edmonds

Topic: Financial institutions, Financial services

The compensation scheme began making payments in June 2011 with the expectation that all payments would be made by 2014. By the end of 2012 the scheme had made payments in excess of £500m. These will be prioritised so that the eldest policyholders receive their payments earliest. The scheme administrators will make contact with qualifying policyholders with a view to making payments.

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