30/10/09 - Supporting those let down by Equitable Life

In Parliament recently the Conservatives sponsored a debate condemning the Government's conduct over Equitable Life and calling for a speedy resolution to this protracted injustice.

This is not a partisan issue.  The strength of cross - party support is a testament to the work of Equitable Life Members Action Group MAG. 

Each step of the way, the Government has frustrated the fight for justice for policyholders:

• First they claimed the issue was outside the remit of the Parliamentary Ombudsman.
• Then when she finally reported they took six months to respond, and even rejected some of her findings of injustice.
• It has taken a judicial review to get the Government to finally accept responsibility.

Each delay has meant that policyholders have to get by on much reduced pensions and each delay has meant that sadly some people will never see justice as policyholders die. We now have learnt that we may see a scheme in place by spring.  But the Minister would not say when people would finally get compensation.

Our Labour MP has signed a motion in Parliament which called the Government's response to the Ombudsman's report inadequate,  and called for the Government to accept the recommendations of the Ombudsman by compensating policyholders who have suffered loss.  

However, in this debate he voted with the Government to delay compensation.  

It is clear from the Minister's speech that policyholders will not receive payments for their losses until the second half of 2010 at the earliest. 

I have received harrowing letters from people whose lives have been blighted by this crisis.

This injustice needs to be resolved as speedily as possible.