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Honor Blackman calls on Government to help Equitable Life pensioners now
Honor Blackman outside the Treasury demanding urgent payment NOW for elderly annuitants
Actress Honor Blackman today called on the Government to make payments on account to 44,000 elderly Equitable Life pensioners who have yet to receive any compensation despite the Parliamentary Ombudsman’s recommendation that they should do so.
“The Treasury has been dragging its feet at every turn” said Ms Blackman. “It is now 19 months since the Parliamentary Ombudsman’s report was put before Parliament and yet we are still waiting for a single penny to be paid.”
EMAG (Equitable Members Action Group) has produced a costed proposal for the Treasury to make interim payments to the with profits annuitants who were recently transferred from Equitable Life to the Prudential. “Everybody who has a policy with Equitable Life has been badly affected, but for the annuitants time is running out. Many have seen their pensions fall by more than 50% with the prospect of further falls to come” said Ms Blackman.
EMAG is calling for the Government to make immediate tax-free payments to the annuitants which can be deducted from any final compensation they receive. The cost is calculated at £214 million. The average age of the pensioners is now 79 and it is estimated that thousands have already died without seeing any compensation for the serial failures in regulation that the Government has admitted.
“If the Treasury implements EMAG’s proposal, it will mean 2,500 victims and their families will at least have something to help them enjoy their last few months on earth and another 41,000 will be able to enjoy their retirement a little better.” said Honor Blackman.
The proposal also calls for similar payments to be made to the surviving partners and families of the estimated 10,000 annuitants for whom this has come too late.
EMAG is launching a major campaign to target candidates of all three main parties in more than 550 constituencies in the run up to the election seeking their support. Further details can be found at http://www.emagregional.org.uk
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