Govt 'failing Equitable victims'

More than 200,000 victims of the collapse of Equitable Life may miss out on compensation payments because of failings in a Treasury scheme, MPs have warned.

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200,000 Equitable Life victims could miss payment

More than 200,000 victims of the collapse of Equitable Life may miss out on compensation payments because of failings in a Government scheme, a scathing report by a Westminster spending watchdog warned today.

The Treasury estimates that it may not be able to trace some 17%-20% of policyholders - between 200,000 and 236,000 people eligible for payments - by the March 2014 closing date.

And ministers are not planning to publicise the closure of the scheme until September, which provides little time for applications to be submitted by these savers, many of whom are elderly.

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