Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what is the total value of payments made to With-Profits Annuitants under the Equitable Life Payments Scheme as of 30 May 2026.

In 2010 the then government chose to allocate £1.5 billion to the Equitable Life Payment Scheme. Before it ceased operations in 2016, the Scheme had issued £1.12 billion in tax-free payments to nearly 933,000 policyholders. The remainder of the £1.5 billion has been set aside for future payments to the With-Profits Annuitants. Further information is available in the Final Report on the Scheme. (https://www.gov.uk/government/publications/equitable-life-payment-scheme-final-report).