30/07/2012 - Second Year Payments
EMAG has heard that second year payments to with profits annuitants have begun to be made through BACS. This seems insensitive to the 12,000 thousand eligible WPAs who had received no payment by the end of June. Will they receive TWO years of payments in their first tranche?
05/04/2012 - More confusion
Whilst it appeared that everyone would hopefully know what is to be their level of proposed compensation before the end of June 2012, this may not be the case. It appears that some policyholders are receiving requests that they provide documentary evidence of who they are and where they now live. This may or may not lead to deferred payments.
Worse, it appears that where a joint–life annuitant dies during the five–year spread of compensation payments for the years up to 2009, the compensation due will immediately stop being paid out. It may be that payment of the residue will be made out to the Estate and not automatically flow to the widow — EMAG is seeking clarification.
01/02/2012 - Mark Hoban is a broken record
Read the complaint letter from EMAG's Paul Braithwaite to Chancellor George Osborne, 13 December 2011.
Six weeks later, Mark Hoban replied on the Chancellor's behalf. This continued, like a broken record, to hide behind the false assertion that the PO intended to exclude the early annuitants.
