Equitable Life Update - April 2012
The Equitable Life Payment Scheme ("the Scheme") was launched in June 2011. Since then, the Scheme has concentrated on contacting and making payment to single policyholders only.
Over the next six months, the Scheme will start to contact Trustees of Group schemes, such as IBM's, to produce a schedule of eligible members, confirming the amount of any payments due to each individual member and subsequently making the payments. It is anticipated that all policyholders due a payment will have received it by mid 2014.
We understand that the Scheme's administrators will contact Pensions Trust before making any payments, to confirm eligibility and validate other details (eg: current address). The Scheme has set up a dedicated website and call centre to handle general queries. To view the website or the January 2012 Progress Report please click here.
The Scheme has stated that due to the additional complexities in relation to Group arrangements, such as IBM's, may not be contacted until after June 2012.
Pensions Trust Manager