The Equitable Life (Payments) Bill passed its second and third readings in the House of Lords yesterday, but not without renewed calls for pre-1992 annuitants to be included in compensation payouts.
The Bill does not specifically state how much compensation will be paid, but, once given Royal Assent, will give the government the power to make compensation payments to victims via NS&I. Though no amendments were made to the Bill, UKIP Lord Willoughby de Broke demanded answers from commercial secretary Lord Sasson as to why Equitable policyholders who annuitised before 1991 will receive no compensation. Lord Willoughby de Broke (pictured) said: "It is worse for [pre-1992 annuitants] because they are older and have no real means of support other than their pension payments, which hav...
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