Sir David Davis welcomes Public Accounts Committee report on Equitable Life

Further to publication of the Public Accounts Committee report on Administering the Equitable Life Payment Scheme, Sir David Davis said:

“I welcome this report and urge the government to adopt the recommendations made by the Public Accounts Committee.

Poor planning and administration of the payment scheme has led to more than 660,000 people still waiting for payment over 3 years on from the scheme’s creation.  Up to 20% of policyholders entitled to compensation remain untraced due to irrational concerns regarding data protection that the report has properly acknowledged be resolved.   

The payment scheme has been a lesson in how not to handle a critical and sensitive issue for vulnerable elderly people, many of whom have passed away waiting for what is rightfully theirs.”