You are here: Home - Saving & Banking - News -

£70m paid out to Equitable Life policyholders

0
Written by:
06/02/2012
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.

Its latest figures shows payments had been made to 95,601 policyholders at the end of January, totalling £70.75m.

That includes more than £9m paid out to 11,000 with-profit annuity policyholders who were unable to switch accounts before Equitable’s near-collapse in 2000.

The Treasury reports regularly on a scheme to pay out £1.5bn in compensation to around 1m Equitable Life customers.
Payments were supposed to begin in June 2011, but only 3,000 victims had seen some redress by the end of 2011.

The Treasury has since stepped up payments.

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Brits still prefer pets to loved ones

Brits would rather insure pets than themselves or their families, a survey has found.

Close