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Equitable Life Policyholders (Compensation) 2025-05-14
14 May 2025
Lead MP
Bob Blackman
Debate Type
General Debate
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Other Contributors: 1
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.
How the Debate Unfolded
MPs spoke in turn to share their views and ask questions. Here's what each person said:
Lead Contributor
Opened the debate
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.
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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