UK - The government has been criticised for its "non-committal stance" over whether the Equitable Life inquiry can recommend compensation for policyholders.
Conservative work and pensions spokesman Lord Higgins said the government should guarantee the inquiry’s terms of reference will not prevent it from recommending compensation payouts. Tories claim the government is ducking the issue.
But Labour’s pensions spokeswoman in the Lords, Baroness Hollis, refused to give such assurances during the debate.
Lord Higgins has now written to Baroness Hollis asking for a more firm response to the question of compensation.
The letter reads: “Your reply was not as comprehensive as your replies usually are and you did not say – as you often do – that you would write to members on questions that you had left unanswered.
“I should, therefore, be grateful if you could reply to the specific question I raised regarding Equitable Life and the Penrose inquiry.
“The plight of Equitable Life policyholders is particularly serious…for the pensioners who have retired and had their annuities cut it is a disaster.”
Hyperbolic discounting and political temptation: Why Brexit-fuelled AE reversal would be a 'monumental' mistake
The home secretary has suggested AE should be scrapped in the event of a no-deal Brexit. Darren Philp explains why this would be misguided
The trustees of the Kodak Pension Plan No.2 (KPP2) have said it will likely enter the Pension Protection Fund (PPF) in "due course" after reviewing the scheme's investment in Kodak Alaris.
A US company has completed a £285m pensioner bulk annuity for around 1,100 of UK members with Legal & General (L&G).
Former BHS chief Dominic Chappell has been accused of trying to rewrite history as he seeks to overturn a conviction for failing to hand over information to the regulator.