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  • FIRST POST
    • MSE Guy
    • By MSE Guy 15th Oct 09, 2:32 PM
    • 1,628Posts
    • 1,255Thanks
    MSE Guy
    MSE News: Compensation boost for Equitable Life victims
    • #1
    • 15th Oct 09, 2:32 PM
    MSE News: Compensation boost for Equitable Life victims 15th Oct 09 at 2:32 PM
    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 ..."


Page 1
    • cogito
    • By cogito 15th Oct 09, 2:41 PM
    • 4,226 Posts
    • 12,189 Thanks
    cogito
    • #2
    • 15th Oct 09, 2:41 PM
    • #2
    • 15th Oct 09, 2:41 PM
    And how many billions will this cost the government, sorry, taxpayer. Good job the public finances are in such great shape.
  • EdInvestor
    • #3
    • 15th Oct 09, 4:24 PM
    • #3
    • 15th Oct 09, 4:24 PM
    Excellent news.The Government's behaviour over Equitable Life has been an utter disgrace for nearly a decade.
    • parcival
    • By parcival 15th Oct 09, 5:17 PM
    • 494 Posts
    • 295 Thanks
    parcival
    • #4
    • 15th Oct 09, 5:17 PM
    • #4
    • 15th Oct 09, 5:17 PM
    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.
  • EdInvestor
    • #5
    • 15th Oct 09, 5:59 PM
    • #5
    • 15th Oct 09, 5:59 PM
    http://www.thisismoney.co.uk/news/article.html?in_article_id=491968&in_page_id=2&ct= 5

    Big court victory for Equitable victims
    • zygurat789
    • By zygurat789 16th Oct 09, 3:10 PM
    • 4,229 Posts
    • 1,993 Thanks
    zygurat789
    • #6
    • 16th Oct 09, 3:10 PM
    • #6
    • 16th Oct 09, 3:10 PM
    And how many billions will this cost the government, sorry, taxpayer. Good job the public finances are in such great shape.
    Originally posted by cogito
    Estimated at 4-5bn to 1m policy holders - 4000 - 5000 each
    The only thing that is constant is change.
    • Prudent
    • By Prudent 16th Oct 09, 4:54 PM
    • 11,232 Posts
    • 48,923 Thanks
    Prudent
    • #7
    • 16th Oct 09, 4:54 PM
    • #7
    • 16th Oct 09, 4:54 PM
    Estimated at 4-5bn to 1m policy holders - 4000 - 5000 each
    Originally posted by zygurat789
    Will everyone get the same amount?
    • antenna
    • By antenna 16th Oct 09, 6:33 PM
    • 1,661 Posts
    • 993 Thanks
    antenna
    • #8
    • 16th Oct 09, 6:33 PM
    • #8
    • 16th Oct 09, 6:33 PM
    Will everyone get the same amount?
    Originally posted by Prudent
    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......
    Political?....I dont do Political....well,not much!
  • spacebadger
    • #9
    • 17th Oct 09, 1:15 PM
    • #9
    • 17th Oct 09, 1:15 PM
    Will there be any waiting for withprofits/ term/age?
    Unfortunately I only joined a few years before the failure and was invested in shares..:confused: the MAV prohibited moving funds out
    the streets are paved in bronze if you bother to look down....
    • monkeyspanner
    • By monkeyspanner 17th Oct 09, 3:46 PM
    • 2,119 Posts
    • 1,933 Thanks
    monkeyspanner
    And how many billions will this cost the government, sorry, taxpayer. Good job the public finances are in such great shape.
    Originally posted by cogito
    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.
    • Geoffo M
    • By Geoffo M 17th Oct 09, 6:29 PM
    • 1,145 Posts
    • 440 Thanks
    Geoffo M
    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.
    Originally posted by parcival
    I expect this to be dragged out until nearly every potential beneficiary has gone to their maker.
    • cogito
    • By cogito 20th Oct 09, 8:54 AM
    • 4,226 Posts
    • 12,189 Thanks
    cogito
    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.
    Originally posted by monkeyspanner
    But where does it end? If we were all entitled to compensation for government regulatory failures, we would all receive thousands.
  • groove st
    how do you find out if you are one of the eligible ones, and how much compensation you will get?
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