Eq Life compensation to rise to £1.5bn

Chancellor George Osborne will unveil the revised figure in his Spending Review on Wednesday, the BBC reports. It is still way below the £4.5bn believed to have been lost by 1.5m savers, according to some estimates. However, it is three times the payout proposed by Sir John Chadwick in his recent report into the debacle. Many Equitable policyholders are believed to be very unhappy with the proposed payout and the fact it has been leaked ahead of the Review. Equitable Life would not comment to the BBC while members' groups said they wanted to see the small print of the deal and prom...