Victims of the Equitable Life collapse were finally able to receive compensation when Liberal Democrats pushed forward the Equitable Life Bill in May 2010 shortly after forming the Coalition Government.
Commenting, Jo said:
“The previous Government continually ignored the millions of people who lost their savings.
“Over the past five years I have been contacted by a great many people in East Dunbartonshire who lost up to half of their pensions in the fiasco. They are angry that the Labour Government failed to act, ignoring Liberal Democrat advice, ignoring the High Court and ignoring an Ombudsman’s report.
“This Bill is a massive relief to thousands of pensioners and is long overdue.
“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.”
More than 700 people in East Dunbartonshire were policyholders with Equitable Life and lost money as a result of the company’s near-collapse. Despite a Parliamentary Ombusdman call on the Government in July 2008 to apologise to Equitable Life policyholders and establish a fund to pay compensation to those who lost out, the Labour Government of the day failed to act. The saga went on for almost a decade, while it was estimated that 15 policyholders died each day.
Below you will find details of Jo's actions on behalf of Equitable Life policyholders in East Dunbartonshire.
Action on Equitable Life
Parliamentary Questions and Debates
14/07/09 Equitable Life | Treasury Questions
24/06/09 Equitable Life Government Debate
27/01/09 Equitable Life Debate
16/12/08 Christmas Adjournment Debate
30/10/2008 Equitable Life | Leader of the House
Jo signed the following Early Day Motions on Equitable Life:
Another website of interest on the campaign for justice for Equitable members is the Equitable Members Action Group