Equitable Life Assurance Society: Compensation

Summary

To ask the Chancellor of the Exchequer, how much of the funding allocated for compensating Equitable Life With-Profits Annuitants has been spent up to and including 2024-25; and how much was forecast to be spent on both a cash and discounted basis.

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Timeline

1. 21 January 2026

   Written question

   To ask the Chancellor of the Exchequer, how much of the funding allocated for compensating Equitable Life With-Profits Annuitants has been spent up to and including 2024-25; and how much was forecast to be spent on both a cash and discounted basis.

   Source: Commons

2. 29 January 2026

   Answer

   The previous Conservative Government allocated £1.5 billion to the Equitable Life Payment Scheme. Before it ceased operations in 2016, the Scheme had issued £1.12 billion in tax-free payments to nearly 933,000 policyholders. The remainder of the £1.5 bill...

   Source: Written answer

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• · Treasury · Answering body

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