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MSE News: Compensation boost for Equitable Life victims
Former_MSE_Guy
Posts: 1,650 Forumite
This is the discussion thread for the following MSE News Story:
"Equitable Life policyholders today welcomed a High Court ruling that means "hundreds of thousands" could become eligible for compensation after the firm's near collapse ..."
"Equitable Life policyholders today welcomed a High Court ruling that means "hundreds of thousands" could become eligible for compensation after the firm's near collapse ..."
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Comments
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And how many billions will this cost the government, sorry, taxpayer. Good job the public finances are in such great shape.0
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Excellent news.The Government's behaviour over Equitable Life has been an utter disgrace for nearly a decade.Trying to keep it simple...
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It is indeed positive. However I suspect it will still be along time before anyone sees any compensation. The whole system is geared to protect it'self at the expense of the consumer.0
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http://www.thisismoney.co.uk/news/article.html?in_article_id=491968&in_page_id=2&ct=5
Big court victory for Equitable victimsTrying to keep it simple...0 -
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zygurat789 wrote: »Estimated at £4-5bn to 1m policy holders - £4000 - 5000 each
Will everyone get the same amount?0 -
I Think we will get a percentage of the amount we should have got starting from what our policy is worth today as opposed to what it would have been if properly overseen...is that clear.....perhaps not........my pension pot was £44000 when i bought my annuity with it........it would/should have been £66000,so a percentage of £22000 is a likely result...........but i have No idea what the percentage might be......Will everyone get the same amount?Political?....I dont do Political....well,not much!0 -
Will there be any waiting for withprofits/ term/age?
Unfortunately I only joined a few years before the failure and was invested in shares..
the MAV prohibited moving funds out:mad: the streets are paved in bronze if you bother to look down....0 -
And how many billions will this cost the government, sorry, taxpayer. Good job the public finances are in such great shape.
The thing is this could have been sorted out years ago when Equitable closed to new business and a series of enquiries laid at least part of the blame at the government's door. At that time the finances were ok and thousands of equitable life anuitants would not have died still waiting for the government to accept blame.0 -
It is indeed positive. However I suspect it will still be along time before anyone sees any compensation. The whole system is geared to protect it'self at the expense of the consumer.
I expect this to be dragged out until nearly every potential beneficiary has gone to their maker.0
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