An announcement on measures to compensate victims of the Equitable Life scandal will be made this week, the Treasury has confirmed.
According to reports, Treasury chief secretary Yvette Cooper will provide details to MPs on Thursday.
The measures are set to include the establishment of an independent tribunal to calculate payments to some of the one million policyholders who lost out as a result of the insurer's near-collapse in 2000.
That was one of the recommendations of a watchdog report into the saga last summer, which found maladministration by regulators and Whitehall officials.
Another suggestion was for the Government to publicly apologise for its alleged failures to protect policyholders.
More than a million customers lost up to half their pensions and savings when Equitable Life, one of the world's oldest insurers, was brought to its knees nearly a decade ago.
The company was forced to close its doors to new business after admitting it had claimed customers' investments were worth £3bn more than its total assets. As a result the insurer slashed the value of customers' policies.
Campaigners, who joined to form the Equitable Members Action Group, have repeatedly argued the case for compensation was "overwhelming".IFAonline
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