Asked by: Kim Johnson (Labour - Liverpool Riverside)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will publish the calculations, including the intermediary steps, used in determining payments made under the Equitable Life Payment Scheme.
Answered by John Glen
Since 2010, the government has taken more action to resolve this issue than ever was taken previously, including setting up a payment scheme to make payments of up to £1.5bn to eligible policyholders. Since the Scheme closed in 2016, the Government’s position on this issue has been clear, that there will be no further funding in addition to the £1.5bn and this issue is considered closed.
The methodology for calculating payments to Equitable Life policyholders was published in 2011 and can be found at: www.gov.uk/government/publications/equitable-life-payment-scheme-design.
Asked by: Kim Johnson (Labour - Liverpool Riverside)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps he plans to take in 2022 to help people affected by the Equitable Life scandal.
Answered by John Glen
Since 2010, the government has taken more action to resolve this issue than ever was taken previously, including setting up a payment scheme to make payments of up to £1.5bn to eligible policyholders. Since the Scheme closed in 2016, the Government’s position on this issue has been clear, that there will be no further funding in addition to the £1.5bn and this issue is considered closed.
The methodology for calculating payments to Equitable Life policyholders was published in 2011 and can be found at: www.gov.uk/government/publications/equitable-life-payment-scheme-design.
Asked by: Kim Johnson (Labour - Liverpool Riverside)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the upcoming expiration of his Department’s contract with Capita for the administration of the Equitable Life Payments Scheme, if he will confirm that future awardees of the contract will be subject to the same contractual requirement to hold, in a searchable format, the personal, bank account and payment data for all those non-WPA (With Profits Annuitants) Equitable Life policyholders who have already received a payment from that scheme.
Answered by John Glen
I refer the Honourable Member to the answer I gave to PQ UIN67299 on 9th November.
Asked by: Kim Johnson (Labour - Liverpool Riverside)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will ensure that, following the upcoming expiration of his Department’s contract with Capita for the administration of the Equitable Life Payments Scheme, that future awardees of the contract will be subject to the same contractual requirement to hold, in a searchable format, the personal, bank account and payment data for all non-With Profits Annuitants Equitable Life policyholders, who have already received a payment from the Scheme.
Answered by John Glen
HM Treasury has extended its contract with Capita for the administration of the Equitable Life Payment Scheme until 15 November 2023. The service requirements will naturally be reviewed when the service is re-procured.
The contract is published on the Contracts Finder website and is available at the following link: