Cautious welcome to Equitable Life proposals
Posted by Menzies Campbell, MP for North East Fife, at 10:56, Mon 19 January 2009:
The Government’s statement on Equitable Life is entitled to a cautious welcome but policyholders still have some way to go before they receive any financial compensation.
The criteria, which the Government has set out, may be onerous in practice and it is by no means certain that all policyholders will receive payment nor that those who do will receive full value.
The delay in this matter has been shameful and it was noticeable that Yvette Cooper felt in necessary to issue an apology on behalf of successful Governments.
You can read the Government statement here: http://news.parliament.uk/2009/01/equitable-life-statement/
Best wishes
Ming
Sir Menzies Campbell MP, North East Fife, www.mingcampbell.org.uk
Comments
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Posted by ELIZABETH MARY SLACK, 11:57, Mon 19 January 2009: (Is this post abusive?) #
Yes, I agree. The delay has been far too long and there is still uncertainty about the levels and scope of the repayments. Although on a much smaller scale the time lag between the announcement that a number of pensioners in pension schemes such as the NHS and Teachers Pensions have been overpaid due to a mistake in calcuations by the pensions agencies and the actual figures of the overpayment (those concerned will not be informed of the exact amount to be cut from their pensions in April) is in the order of two months. Those affected will not receive the figures until - at the latest - the end of February. At least, I suppose, we should be grateful that the overpayments (which may well be small) are not to be repaid by the pensioners concerned.