Commons Sense

House of Commons · General Debate

Equitable Life Policyholders (Compensation) 2025-05-14

14 May 2025 · 1 other contributor

Opened by Bob Blackman Con Harrow East

Justice & CourtsStandards & Ethics

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Bob Blackman raised concerns about equitable life policyholders (compensation) 2025-05-14 in the House of Commons. Other MPs contributed to the debate.

Key points

  • Moves for leave to bring in a Bill to ensure proper compensation under the Equitable Life (Payments) Act 2010
  • The ombudsman's investigation found serial maladministration by Government Departments and regulators
  • The lead MP notes 4.3 billion in financial losses acknowledged but only 1.5 billion in compensation offered

How the debate unfolded

MPs spoke in turn to share their views and ask questions. Here's what each person said.

Opened the debate

Bob Blackman Con Harrow East

Moves for leave to bring in a Bill to ensure proper compensation under the Equitable Life (Payments) Act 2010, highlighting a 15-year campaign for justice and pointing out that the ombudsman's investigation found serial maladministration by Government Departments and regulators. The lead MP also emphasises that £4.3 billion of financial losses were acknowledged but only £1.5 billion compensation was offered, with about £180 million set to be kept by the Treasury instead of reaching those affected.

Other contributors (1)
  • Bob Blackman Con Harrow East

    Campaigns for full compensation for Equitable Life policyholders who lost pension savings due to Government and regulatory maladministration. Emphasises that the 2010 Act recognised £4.3 billion losses but only offered £1.5 billion compensation, with about £180 million set to be kept by Treasury. Proposes a Bill to require full value payment from allocated funds and prioritise around 10,000 elderly annuitants who were unfairly excluded from initial compensation scheme.

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