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Government must make amends to Equitable Life policyholders

January 15, 2009 2:00 PM

Commenting on today's Government statement on compensation for Equitable Life policy-holders, Gordon MP, Malcolm Bruce said:

"While I welcome the Government's apology in today's statement, it will unfortunately be too little too late for the many policy holders who have tragically passed away in the intervening years.

Parliament

Malcolm welcomed the Government statement on compensation for Equitable Life policy-holders

"With the Treasury happy to bail out banks in the financial crisis I hope that will not renege on their commitment to compensate Equitable Life policy holders by hiding behind a bureaucratic, means-tested system. They Government must instigate a fast-track compensation scheme that will allow them to rectify their mistakes quickly.

"For many policy holders it means more delay, with no idea of what entitlement to expect and for others it is unfortunately too late!"

ENDS

Figures from Equitable Members Action Group (EMAG) estimate that there were 565 policyholders affected in the Gordon constituency.

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