Equitable Life Payment Scheme update
On 22 July 2010, Mark Hoban the Financial Secretary to the Treasury announced to Parliament that the Government had published Sir John Chadwick's report on the Equitable Life payment scheme.
Details of the total funds available will be published in October 2010 and will depend on the state of public finances when allocating money to the fund. Payments under the scheme will begin mid 2011.
The Government has set up an independent commission to advise how compensation will be paid. The commission is to start work on the allocation of payment and the design of the scheme and is expected to report in January 2011.
At this time, the Trustee has no further information on this payment scheme and is awaiting further details. A further announcement will be made once more information is available.
David Newman
Pensions Trust Manager
August 2010
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Last Updated: 27/08/2010
