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Equitable Life Payment Scheme

Volume 579: debated on Wednesday 9 April 2014

As of 31 March 2014 the Equitable Life payment scheme has made payments totalling £901 million to 860,972 policyholders. The scheme has published a further progress report, which can be found at: http://equitablelifepaymentscheme.independent.gov.uk

The scheme has gone to significant lengths to trace eligible policyholders, and since the last report in January 2014 the scheme has traced over 110,000 additional policyholders. Over the coming months the scheme will be reviewing its records to ensure that all proportionate and effective actions to trace the remaining policyholders have been completed before the scheme shuts.

Any holders of a policy who believe themselves to be eligible should call the scheme on 0300 0200 150. The scheme can verify the identity of most policyholders on the telephone, which means any payment due can usually be received within two weeks.