Equitable Life Update

Local investors in will be ‘quid’s in’ if the conservatives win power according to a report in the Daily Mail.

Recently we reported how failed pension provider Equitable Life had ‘promised the moon’ for £250 a month and how this had turned into ‘pie in the sky’. Local members of the Equitable Members Action Group ( EMAG) had packed Hamble village hall to tell Conservative Shadow Pensions Minister James Clappison and Eastleigh Conservative PPC Maria Hutchings of the hardships and difficulties they had endured since the up market Ponzi scheme had collapsed.

Although the Financial Ombudsmen had ruled that in failing to regulate the company the government was liable to pay compensation to victims – no payments had been forthcoming and the matter had referred to yet another enquiry.

However, according to the Daily Mail, the Conservatives have made a speedy resolution of the case a matter of policy.

Although ‘investors’ still do not know how soon, or how much any payment would be, the Conservatives guarantee they will ensure:

• No means testing
• Payments to the dependents of deceased members.

The Daily Mail is reporting up to 1 Million members will share £1 billion.

Reacting to the news Maria Hutchings said:

“When I held my recent public meeting for EMAG (Equitable Members Action Group) members in Hamble, it was blatantly evident how much these people have suffered. I am delighted that the Conservative Party is making this commitment to compensate Equitable Life Victims as soon, and as fairly, as possible, if we win Government.

“I pledge to the voters of the Eastleigh Constituency that if I am elected to Parliament, I will support and vote for proper compensation for victims of the Equitable Life scandal and I will support and vote to set up a swift, simple, transparent and fair payment scheme -independent of government – as recommended by the Parliamentary Ombudsman.”

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  3 comments for “Equitable Life Update

  1. Davo
    April 3, 2010 at 3:18 pm

    £1 biilion divdied among 1 million people aint that much each

  2. Eastleigh Justice
    April 5, 2010 at 11:54 pm

    Yes but £0 divdied amoung 1 million is even less given the present offer on the table..

  3. Alan Harris
    April 10, 2010 at 7:56 pm

    At least the Conservatives have a policy.
    Labour just stalling tactics.
    Lib Dems NO policy. (not neccessary anyway because they will never be in government)

Comments are closed.