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Equitable Life Payments Scheme Bill

Legislation will reform the framework for financial services Regulation and implement the Government’s commitment to make fair and transparent payments to Equitable Life policyholders.


The purpose of the Bill is to:

•Give HM Treasury statutory authority to incur expenditure in making payments to Equitable Life policyholders.

The main benefits of the Bill would be:

•To make it possible to make payments to Equitable Life policyholders and other individuals (e.g. former policyholders) who have suffered losses due to Government maladministration.

The main elements of the Bill:

•Give HM Treasury statutory authority to incur expenditure in making payments to Equitable Life policyholders.

Devolution:

All provisions in the Bill are reserved.

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Equitable Life Payments Scheme Bill
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Make fair and transparent payments to Equitable Life policy holders
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