PARLIAMENTARY WRITTEN QUESTION
(18 March 2026)

To ask the Chancellor of the Exchequer, if she will make an assessment of the potential implications for her policies of the Equitable Members' Action Group’s analysis of Government spending on the compensation package for people affected by financial losses related to Equitable Life policies, published in January 2026.

Asked by:
Helen Morgan (Liberal Democrat)

The Equitable Life Payment Scheme has been fully wound down and closed since 2016. The only remaining part of the Payment Scheme in operation is the annual payments made to eligible With-Profit-Annuitants and the Scheme is on track to distribute the remainder of the £1.5 billion as planned.

There are no plans to reopen any decisions relating to the Payment Scheme or review the £1.5 billion funding allocation previously made to it. Further guidance on the status of the Payment Scheme after closure is available at: https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.

Answered by:
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