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Equitable Life Assurance Society: Compensation

Volume 499: debated on Wednesday 11 November 2009

To ask the Chancellor of the Exchequer what recent discussions he has had on criteria for compensation of Equitable Life policyholders. (298066)

The Government asked Sir John Chadwick to advise on the extent of relative loss suffered by current and former Equitable Life policyholders, as well as what factors the Government might wish to take into account when determining whether disproportionate impact has been suffered. The Government expects Sir John to submit his final advice by spring 2010.

To ask the Chancellor of the Exchequer what recent discussions he has had with (a) ministerial colleagues and (b) Sir John Chadwick on the likely timetable for payment of compensation to Equitable Life policyholders. (298087)

As I announced in the House on 21 October, the Government expects Sir John to submit his final advice by spring 2010. We will consider his advice as quickly as possible and announce a payment scheme that is practical to deliver and fair to both policyholders and taxpayers.

To ask the Chancellor of the Exchequer what recent discussions he has had on the progress of Sir John Chadwick's work on an ex-gratia payment scheme for Equitable Life policyholders. (298283)

The Government expects Sir John to submit his final advice by spring 2010. We will consider his advice as quickly as possible and announce a payment scheme that is practical to deliver and fair to both policyholders and taxpayers.