Updated 16 October, 2020

EMAG exists to campaign for full government compensation. Will members of EMAG please note that because of pressure of work we regret it is not possible to answer individual written enquiries.

A short video which explains what EMAG is fighting for.

10-year anniversary of partial compensation

October 20 marks the tenth anniversary of George Osborne’s announcement of partial compensation for Equitable Life victims. Constraints on the public purse were cited then and continue to be used as a reason not to pay the debt that the Government itself has acknowledged - despite hundreds of billions of pounds having been ‘found’ for other things. EMAG is marking the anniversary by holding an online rally for members and Members of Parliament. The rally will be addressed by co-chairs of the All-Party Parliamentary Group for Justice Bob Blackman MP and Fabian Hamilton MP.

EMAG's campaign covered in the Daily Mail

The Daily Mail has covered EMAG's campaign with an article highlighting that the majority of the £4.1bn debt acknowledged by the Government remains unpaid. It also highlights concerns about the lack of transparency around how payments that have been made have been calculated, following cases where significant errors were made.

The article is available to read here:

Daily Mail article - story of EMAG's 20 year Campaign - with picture of Honor Blackman protesting outside parliament

EMAG's AGM

EMAG's Annual General Meeting will take place at 2.30pm on Thursday 19 October via Zoom. Details for joining the meeting are included in the formal notice being posted to members this month.

APPG grows to over 250

Membership of the All-Party Parliamentary Group has now grown to over 250 MPs. From the House of Commons it comprises 106 Conservative MPs, 86 Labour, 37 SNP, 9 Liberal Democrat, 7 DUP, 4 Plaid Cymru and 1 Green. You can see if your MP is a member here.

Early Day Motion

An Early Day Motion tabled in Parliament calls on the Government to commit to paying the missing 78% to Equitable Life victims and to treating pre-September 1992 WPAs the same as those who took out their policies after that date. You can see if your MP has supported the motion here.

The text of the motion reads:

“That this House recognises that the Equitable Life scandal remains an ongoing and significant injustice; notes that the majority of victims are retired factory shop workers, nurses, teachers, civil servants and small business owners who diligently saved for their retirement; is concerned that 12 years after the Government accepted the Parliamentary Ombudsman's findings that a decade of maladministration by UK Government regulators led to one million pension savers suffering multi-billion pound losses, 95 per cent of Equitable Life policyholders have received only 22 per cent of the money they lost as a consequence of UK Government maladministration; seeks a commitment that victims will receive the missing 78 per cent of their compensation entitlement; seeks a further commitment that the 10,000 pre-September 1992 WP annuitants are compensated on exactly the same terms as those who took their WP annuity after that date; and therefore calls on the Government to urgently increase the available funding from £1.5 billion to £4.1 billion to reflect the Treasury's own calculation of the true cost of full compensation to all victims.”

EMAG's successful Westminster Rally, 22nd October, 2014

EMAG's campaign objectives

EMAG will campaign until fair compensation is awarded to the million victims of the Equitable Life scandal.

For the majority 945,000 victims

95% of Equitable's with profits policyholders have received just 22% of the Treasury's calculation of their ‘relative losses’ without any interest paid from 2009 onwards.

With the economy at last recovering, we are campaigning for a commitment that victims will receive the missing 78% of their compensation entitlement.

For the pre–1992 WP Annuitants

We are campaigning to get MPs to insist that the 10,000 pre–September 1992 WP Annuitants are compensated on exactly the same terms as those who took their WP Annuity after that date. We view the current flat rate £5,000 as a welcome down–payment.

For the post–1992 Annuitants

For the 37,000 WP Annuitants who are receiving an alleged ‘100% of their relative losses’ we are seeking dialogue with The Prudential to see why annuity payments continue to fall every year.