Equitable Life Payment Scheme: February 2015 progress report
Published 24 February 2015
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As at 31 January 2015, the Equitable Life Payment Scheme has now issued payments surpassing £1 billion to 896,367 policyholders.
The figures are broken down as follows:
- 412,445 payments to individual investors have been issued totalling £560.3 million
- 37,764 With-Profits Annuitants (WPAs) or their estates have been issued payments by the scheme. These Initial and subsequent payments total £271.4 million
- 446,158 payments totalling £169.3 million have been issued to those who bought their policy through their company pension scheme
There are now approximately 141,700 policyholders who are due a payment but where the scheme has not yet been able to trace or validate their address. The scheme remains committed to tracing and paying as many eligible policyholders as possible, and will continue to consider all proportionate actions it can take to do this.
The scheme encourages any policyholders who believe themselves to be eligible to call the scheme on 0300 0200 150.
The scheme can verify the identity of most policyholders on the telephone, which means any payment due can usually be received within 2 weeks.