Chair of the Public Accounts Committee Margaret Hodge said the Equitable Life compensation scheme has "let down a lot of people".
Ms Hodge said there was over 200,000 people who could miss out on compensation as a result of system failures.
More top news
The rail union have slammed the move saying China is set to make "a killing at the British taxpayers' expense".
US-backed rebel fighters say they have taken control of a key airbase near the so-called Islamic State's stronghold of Raqqa.
A primary school has taken action after pupils brought in an variety of "worrying" packed lunches - including a two-day-old McDonalds.