Summary
Equitable Life policyholders face a two-year wait for new findings by the parliamentary ombudsman, and the danger that those findings will not trigger compensation from the next government - by which time they will be too late to sue the society for mis- selling.
Meanwhile, "trapped annuitants" - those already receiving Equitable Life pensions who are the only policyholders prevented from moving their cash elsewhere - are flocking to join a legal action which could see the society again forced to make out-of- court settlements to anyone who dares to pursue it.See the full content of this document
Extract
Rush to Be Free of Equitable Annuity Trap
The Equitable Life Trapped Annuitants (Elta) group has already signed up over 400 members and has set a cut-off date of next Friday for joining its legal action, which it bel...
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