To ask the Chancellor of the Exchequer, how many times officials in his Department have met affected Equitable Life policyholders in the last 12 months.
Answered on
19 February 2024
The Government allocated £1.5 billion to the Equitable Life Payment Scheme. Before it ceased operations in 2016, the Scheme 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).
At 31 December 2023, the total value of payments made by the Equitable Life Payment Scheme was £1,330,835,466.52.