Updated 1, April 2021

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 message to Boris Johnson and Rishi Sunak

March Budget 2021

The Government failed to do the right thing in March's Budget, despite widespread support from MPs across the House of Commons. Letters calling on the Chancellor to honour the Government's unpaid debt had been submitted to the Chancellor ahead of the Budget, signed by high-profile MPs. Speaking during the debate on the Budget, Bob Blackman MP, co-Chair of the APPG for Justice, said:

“I am disappointed that the Chancellor has not announced any more funding to compensate the victims of the Equitable Life scandal...At the moment, £2.6 billion is owed. It is quite clear that the Chancellor has been able to find funding when it is necessary. These people are among the most vulnerable in our society and deserve our backing and support.”

EMAG member scores press coverage

EMAG member Susan Wood secured a great press coup with the i-newspaper. Spotting a call for views on what people wanted from the Budget, Susan got in touch with the paper. They were so interested they wanted to do a separate interview and article on Susan's story and the campaign for justice. EMAG's chair, Paul Weir, was also interviewed. The resulting article is available here:

Equitable Life pension scandal - inews.co.uk

i-News features EMAG ramping up their pressure on the Goverment

Parliamentary committee inquiry

Following the debate in the House of Commons in January EMAG understands that the Public Accounts Committee is preparing to undertake an investigation into the transparency and accuracy of payments. EMAG has examples of very significant errors made in the calculation of some compensation payments made to date and along with MPs has been calling for full transparency from HM Treasury.

APPG membership close to 300!

Membership of the All-Party Parliamentary Group has now grown to 294 Members of Parliament, demonstrating the continued strength of support for EMAG's campaign for justice. It is believed to be the largest APPG in the current Parliament.You can see if your MP is a member here.

EMAG members and MPs demonstrating in Westminster.

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.