The Penrose report into what went wrong at Equitable Life is being published on Monday by Ruth Kelly MP, the Treasury has just confirmed.
A spokesman for the Treasury says the report will be released when Kelly presents a statement to the House of Commons.
Policyholders will want to know whether the government and regulators such as the FSA have a case to answer for the near-bankrupting of the oldest life company by its former directors’ decision to stop paying guaranteed annuity rates.
That decision led to the court challenge, which ultimately required the firm to stop taking new business and implement a rescue plan involving huge penalties for policyholders withdrawing their money.
Policyholder groups fear a whitewash, but say they will still pursue challenges in line with European law if necessary.
IFAonline will bring the coverage of both her speech and the contents of the report on Monday afternoon.IFAonline
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