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More than £70m has so far been paid out to some 95,000 individual policyholders in Equitable Life, according to a progress report from the Treasury.
The government is making 10,000 compensation payments to Equitable Life victims every week, Mark Hoban, financial secretary to the Treasury, has announced.
Thousands more Equitable Life policyholders could die before they receive compensation amid continuing government "incompetence", the mutual's chief campaign group has warned.
Other Equitable Life articles
The first of the Equitable Life compensation payments will be sent out today.
Five more days in the world of financial advice and every one of them was eventful…
It has taken far too long and the scheme is still too tightly drawn but at last Equitable Life policyholders know when the compensation they have argued for a decade will start to flow.
Equitable Life policyholders came a step closer to finally receiving compensation today, as the Treasury laid out its plans for its £1.5bn Payments Scheme.
Nationals round-up: ‘Greedy’ IFAs, incredible stakeholder pension returns and plenty of love for index-linked savings certificates...
Financial secretary to the Treasury Mark Hoban has confirmed the government is on track to begin paying compensation to Equitable Life victims before the end of June.
The Serious Fraud Office decided to drop an investigation into Equitable Life because financial regulators were already aware of potential criminal activity at the failed insurer, according to a new document.
Equitable Life will give policyholders who leave the society an enhancement to their with-profits payment equivalent to 12.5% of their policy value.
The Serious Fraud Office (SFO) has been instructed to release potentially sensitive documents about the downfall of Equitable Life following a Freedom of Information (FOI) request.
The government has published the Independent Commission on Equitable Life Payments’ report, which recommends how compensation worth £775m should be divided up.
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