Asked by: Neale Hanvey (Alba Party - Kirkcaldy and Cowdenbeath)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps he plans to take in 2021 to help people affected by the Equitable Life scandal.
Answered by John Glen
There are no plans to reopen the Payment Scheme or review the £1.5 billion funding allocation previously made to it. The Equitable Life Payment Scheme closed to claims in 2015 and further guidance on the status of the Payment Scheme after closure is available at https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.
The methodology for calculating payments to Equitable Life policyholders was published in 2011 and can be found at https://www.gov.uk/government/publications/equitable-life-payment-scheme-design.
I can assure the Hon Member for Kirkcaldy and Cowdenbeath that relevant records are currently retained and will continue to be as long as it is legal to do so.
Asked by: Neale Hanvey (Alba Party - Kirkcaldy and Cowdenbeath)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent discussions he has had with (a) Cabinet colleagues and (b) Ministers in his Department on (i) compensation and (ii) support for people affected by the Equitable Life scandal.
Answered by John Glen
There are no plans to reopen the Payment Scheme or review the £1.5 billion funding allocation previously made to it. The Equitable Life Payment Scheme closed to claims in 2015 and further guidance on the status of the Payment Scheme after closure is available at https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.
The methodology for calculating payments to Equitable Life policyholders was published in 2011 and can be found at https://www.gov.uk/government/publications/equitable-life-payment-scheme-design.
I can assure the Hon Member for Kirkcaldy and Cowdenbeath that relevant records are currently retained and will continue to be as long as it is legal to do so.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps he is taking to ensure his Department retains and maintains the data required to make further payments to Equitable Life policyholders.
Answered by John Glen
The methodology for calculating payments to Equitable Life policyholders was published in 2011 and can be found at https://www.gov.uk/government/publications/equitable-life-payment-scheme-design.
The Equitable Life Payment Scheme closed to claims in 2015 and further guidance on the status of the Payment Scheme after closure is available at https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.
I can assure the Hon Member for Rother Valley that relevant records are currently retained and will continue to be as long as it is legal.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the accuracy of payments made through the Equitable Life Payment Scheme.
Answered by John Glen
The methodology for calculating payments to Equitable Life policyholders was published in 2011 and can be found at https://www.gov.uk/government/publications/equitable-life-payment-scheme-design.
The Equitable Life Payment Scheme closed to claims in 2015 and further guidance on the status of the Payment Scheme after closure is available at https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.
I can assure the Hon Member for Rother Valley that relevant records are currently retained and will continue to be as long as it is legal.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps he is taking to ensure victims of the Equitable Life scandal receive their full entitlement of compensation.
Answered by John Glen
There are no plans to reopen the Payment Scheme or review the £1.5 billion funding allocation previously made to it. The Equitable Life Payment Scheme closed to claims in 2015 and further guidance on the status of the Payment Scheme after closure is available at https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.
The methodology for calculating payments to Equitable Life policyholders was published in 2011 and can be found at https://www.gov.uk/government/publications/equitable-life-payment-scheme-design.
Relevant records will be retained as long as it is legal to do so.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the accuracy of payments made through the Equitable Life Payment Scheme.
Answered by John Glen
There are no plans to reopen the Payment Scheme or review the £1.5 billion funding allocation previously made to it. The Equitable Life Payment Scheme closed to claims in 2015 and further guidance on the status of the Payment Scheme after closure is available at https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.
The methodology for calculating payments to Equitable Life policyholders was published in 2011 and can be found at https://www.gov.uk/government/publications/equitable-life-payment-scheme-design.
Relevant records will be retained as long as it is legal to do so.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps he is taking to ensure that the data needed to make further payments to Equitable Life policyholders is retained.
Answered by John Glen
There are no plans to reopen the Payment Scheme or review the £1.5 billion funding allocation previously made to it. The Equitable Life Payment Scheme closed to claims in 2015 and further guidance on the status of the Payment Scheme after closure is available at https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.
The methodology for calculating payments to Equitable Life policyholders was published in 2011 and can be found at https://www.gov.uk/government/publications/equitable-life-payment-scheme-design.
Relevant records will be retained as long as it is legal to do so.
Asked by: Sammy Wilson (Democratic Unionist Party - East Antrim)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent steps he has taken to ensure that victims of the Equitable Life scandal receive full compensation.
Answered by John Glen
There are no plans to reopen the Payment Scheme or review the £1.5 billion funding allocation previously made to it. The Equitable Life Payment Scheme closed to claims in 2015 and further guidance on the status of the Payment Scheme after closure is available at https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.
The methodology for calculating payments to Equitable Life policyholders was published in 2011 and can be found at https://www.gov.uk/government/publications/equitable-life-payment-scheme-design.
The relevant data will be retained as long as it is legal to do so.
Asked by: Sammy Wilson (Democratic Unionist Party - East Antrim)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the accuracy of compensation payments to people affected by the collapse of Equitable Life.
Answered by John Glen
There are no plans to reopen the Payment Scheme or review the £1.5 billion funding allocation previously made to it. The Equitable Life Payment Scheme closed to claims in 2015 and further guidance on the status of the Payment Scheme after closure is available at https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.
The methodology for calculating payments to Equitable Life policyholders was published in 2011 and can be found at https://www.gov.uk/government/publications/equitable-life-payment-scheme-design.
The relevant data will be retained as long as it is legal to do so.
Asked by: Sammy Wilson (Democratic Unionist Party - East Antrim)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will ensure that the data needed to make further payments to Equitable Life policyholders is retained.
Answered by John Glen
There are no plans to reopen the Payment Scheme or review the £1.5 billion funding allocation previously made to it. The Equitable Life Payment Scheme closed to claims in 2015 and further guidance on the status of the Payment Scheme after closure is available at https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.
The methodology for calculating payments to Equitable Life policyholders was published in 2011 and can be found at https://www.gov.uk/government/publications/equitable-life-payment-scheme-design.
The relevant data will be retained as long as it is legal to do so.