Equitable Life Payment Scheme: June 2015 progress report
Published 23 June 2015
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As at 31 May 2015, the Equitable Life Payment Scheme has now issued payments of over £1.06 billion to 902,508 policyholders.
The figures are broken down as follows:
- 414,429 payments to individual investors have been issued totalling £563 million
- 37,921 With-Profits Annuitants (WPAs) or their estates have been issued payments by the Scheme. These initial and subsequent payments total £331.2 million
- 450,158 payments totalling £171.3 million have been issued to those who bought their policy through their company pension scheme
87% of eligible policyholders have now been traced and had a payment issued; this represents nearly 92% of the total amount estimated to be due to policyholders. There remain approximately 136,000 policyholders who are due a payment but where the Scheme has not been able to trace or validate their address.
The Scheme encourages any policyholders who still 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.