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.”
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