Equitable Life Payment Scheme: July 2014 progress report
Updated 18 August 2014
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1. Summary of payments made
As of 30 June 2014, the Equitable Life Payment Scheme has now issued payments totalling £972.9 million to 877,414 policyholders.
The figures are broken down as follows:
- 407,141 payments to individual investors have been issued totalling £547.6 million
- 37,379 initial payments to With-Profits Annuitants (WPAs) or their estates have been issued by the scheme, totalling £81 million. Subsequent annual payments totalling £183 million have also been issued
- 432,894 payments totalling £161 million have been issued to those who bought their policy through their company pension scheme
2. Tracing policyholders
There are now approximately 160,000 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.
July 2014