MP wants payouts for 10,000 more Eq Life annuitants

The government's current proposal is to pay compensation to 37,000 Equitable customers who annuitised after September 1992, but 10,000 annuitants who bought before that date would be excluded. The government argues maladministration of Equitable Life did not happen until late 1992, so anyone buying before that date had not been misled, This Is Money reports. The coalition has proposed a £1.5bn payout to be divided amongst Equitable Life victims, but Hamilton, MP for Leeds North East, says including another 10,000 will cost a further £200m. The Bill will be debated by a House of Com...