Annuities: Equitable Life victims to receive compensation sooner than expected

Compensation for Equitable Life With Profits Annuity ownersA Government scheme, to provide compensation to some victims of Equitable Life, is to be brought forward, so payments are made sooner than expected. The scheme announced in the Budget, is designed to compensation pensioners who bought With Profit Annuities from the beleaguered insurer before 1992. The original compensation scheme only paid out to victims who had bought their ...

200,000 pension investors could lose compensation

iStock_000024336538_ExtraSmallA report from MPs has revealed over 200,000 Equitable Life pension investors could miss out on compensation, because the redress scheme wasn’t publicised enough. The Commons Public Accounts Committee (PAC) has admitted some Equitable Life victims are now at greater risk of remaining untraced, as the Government has set an arbitrary deadline, for the compensation scheme to come to an end, of March 2014. The pension and investment firm, Equitable Life, failed in 2000, resulting in many investors losing significant amounts of their capital ...

Budget 2013: Winners and Losers

Investment Sense Verdict_istockToday’s Budget included a wide range of measures which will affect us all; but were you a winner or a loser? For once there seems to be more winners than losers. However, with so many announcements, changes and alterations it might be a case of ‘swings and roundabouts’. Read on to find out if you have gained more than you have lost. Winners Tax-payers The Personal Allowance, the amount which can be earned before tax is paid, will increase to £10,000 from April 2014, a year earlier than ...

Budget 2013: The headlines

Budget 2013 the headlinesGeorge Osborne’s day started with him joining Twitter, whilst in a controversial development his budget was published in the London Evening Standard even before he took to his feet. This was Mr Osborne’s fourth budget since becoming Chancellor and started in a combative tone saying: “This was a Budget for people who aspire to work hard and get on”, that he was “putting right what went so badly wrong” and he was “slowly but surely fixing the problems”. He also recognised that “progress had been ...