SOLIHULL MP Lorely Burt has welcomed news that the victims of the Equitable Life scandal can expect full compensation.
Over a million elderly people lost up to half their pensions following the near collapse of the world’s oldest life assurer.
But Mrs Burt said that legislation – announced in last week’s Queen’s Speech – would be a “massive relief” to victims.
“The previous Government continually ignored the millions of people who lost their savings,” she said.
“I am delighted that something the Liberal Democrats have been calling for, can now finally happen.
“We are using our position in Government to give policyholders the money they deserve.”
Colin Downes and Christine Mitchell, from Solihull, are among those who have been campaigning for justice.
More than 360 MPS, including Mrs Burt, recently signed a pledge – committing them to vote for full compensation. After a lifetime of hard work, some people have had to sell their homes to survive, and I have heard many heartbreaking stories,” said Colin.
“Enough is enough – we want proper compensation before any more Equitable pensioners die waiting for justice.”
The Equitable Life Bill, outlined last week, will give the Treasury the authority to make payments to policy-holders, or their dependents.