Created: 14 September 2010
September has been a key month for those concerned about Equitable Life and on 14th September Bob used his time in the Chamber to draw attention to the issues affecting his constituents.
Bob called for recognition of the people who invested for their future and set aside money, wisely and prudently, for their old age. Equitable Life policy holders took a small risk in the belief that the Government and the regulator were acting properly. After court action and the ombudsman’s report it is clear that the policyholders should now be compensated in the manner it has been proposed. Bob believes that Members of Parliament should act as advocates for the policy holders who have been so badly treated. Bob concluded by stating that “many complex negotiations and calculations have to be undertaken. Sadly, some policyholders are deceased. For them, whatever we do, it is too late. We should and must compensate their spouses, however, while ensuring that the survivors receive proper and due compensation. That is only right and just.”