皇冠体育app

Since April 2014, the scheme has issued payments to a further 17,000 policy holders, meaning that over 877,000 (out of 1 million) eligible policyholders have now had payments issued to them.

皇冠体育app figures are broken down as follows:

• 407,141 payments to individual investors have been issued totalling 拢547.6 million
• 37,379 initial payments to With-Profits Annuitants (WPAs) or their estates have been issued by the scheme, totalling 拢81 million. Subsequent annual payments totalling 拢183 million have also been issued
• 432,894 payments totalling 拢161 million have been issued to those who bought their policy through their company pension scheme

In October 2013, the government announced that the ELPS would be extended, to make sure that as many Equitable Life policy holders as possible receive the payment they are due for the injustice they suffered. 皇冠体育app scheme had previously been due to close in April 2014.

皇冠体育app scheme remains committed to tracing and paying as many eligible policyholders as possible and will consider all proportionate actions it can take to do this, in addition to the significant efforts that have already been made including extensive electronic tracing methods as well as writing to policyholders鈥� last known address, working with other government departments and liaising with group scheme trustees.

皇冠体育app government has also provided separate financial support to around 9,000 individuals who have With-Profits Annuities from the Equitable Life Assurance Society which began before 1 September 1992. Payments of 拢5,000, totalling approximately 拢46.8 million, were made to this group in December 2013 with the assistance of the Prudential Assurance Society.

Economic Secretary to the Treasury, Andrea Leadsom said:

I am pleased with the progress the Equitable Life Payment Scheme is making and am proud that the government is tackling the legacy of Equitable Life, helping over 877,000 Equitable Life policy holders with over 拢970 million worth of payments.