Compensation for Equitable Life policyholders

Motion Text

That this House recognises the financial, personal and social impact on policy holders following the collapse of Equitable Life Assurance Society; calls on the Treasury to ensure that all of the 1.5 billion pounds set aside for the Equitable Life Payments Scheme, is distributed to Equitable Life policyholders who suffered financial loss due to regulatory maladministration; and further calls on the Treasury to establish a fair distribution of payments following detailed consultation with policyholders and their representatives.