Govt to pay out on pre-1992 Eq Life policies in December

As previously announced at Budget 2013, the government will make single ex gratia payments of £5,000 to people who have with-profits annuities from the Equitable Life Assurance Society, and who lost money as a result of the maladministration of the scheme.  To qualify, investors have to be aged 60 or more and their policies have to date back to before 1 September 1992. The government will also compensate those investors who are in receipt of pension credit. The Treasury said in a statement: "The legislation required to facilitate these payments has now been approved by Parliament. ...