Government support for pensioners
A Westminster Hall debate on government support for pensioners is scheduled for Wednesday 12 February 2025 at 2:30pm. The debate will be led by Blake Stephenson MP.

This note summarises the history behind the continuing campaign for more compensation for Equitable Life policyholders.
Equitable Life: further compensation debate (210 KB , PDF)
The Equitable Life ‘scandal’ as an issue has very long historical roots and millions of pounds have been spent on legal action, professional regulatory proceedings, enquiries and reports into what happened, what have people lost as a result, who did what and, crucially, who is to blame. Despite all the elusive efforts to produce one, there does not exist an unchallenged, clear, unique, unambiguous, simple narrative called ‘truth’ acceptable to all parties.
This Paper deals with the route to compensation and not with the causes of Equitable Life’s failures which are dealt with in other documents. |
With respect to the compensation issue, even at its most basic level, the calculation of loss and even what is, involves not just arithmetic but almost philosophical consideration too.
The Coalition Government legislation enacted the Equitable Life (Payments) Act 2010 to establish a scheme to pay compensation to qualifying EL members. At a time of extreme financial public sector stringency, £1.5 billion was pledged to compensate them, further sums were added to this later and some welfare benefits for EL claimants were improved on. The compnesation Scheme ended in December 2105.
EMAG has consistently claimed that this was insufficient and as at February 2016 it is calling for another £2.7billion of compensation.
Equitable Life: further compensation debate (210 KB , PDF)
A Westminster Hall debate on government support for pensioners is scheduled for Wednesday 12 February 2025 at 2:30pm. The debate will be led by Blake Stephenson MP.
Covers the arrangements made for mineworkers' pensions (MPS) and British Coal Staff Superannuation Scheme (BCSSS) following privatisation of British Coal in 1994.
Between 1978 and 1997, contracted-out defined benefit pension schemes were required to provide a Guaranteed Minimum Pension (GMP). This briefing looks at the arrangements for increasing GMPs.