Equitable Life Government Criticism
Published / Last Updated on 19/03/2009
Equitable Life Government Criticism
The Treasury Select Committee has criticised the Government for denying any responsibility in full or part for the Equitable Life fiasco.
Equitable Life, the troubled insurer, came very closing to insolvency in 2000 due to huge guarantees that it offered to pension investors that it could not afford to honour and since then has been embroiled in battled with action groups, court rulings and selling off major chunks of the business to survive.
Many investors have had and indeed still continue to have huge penalties applied to their with profits policies and can do little other than leave them in place or transfer with a financial penalty.
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