20/12/2013 - EMAG on R4's ‘You and Yours’
At lunchtime on Monday 16 December, Radio 4's ‘You and Yours’ had a five–minute item on the new payments made pre–Christmas to the pre–1992 with–profits annuitants. First, lisetners heard from EMAG member Harold Gurvick, followed by Paul Braithwaite, who flagged up EMAG#39;s ongoing fight!
Listen to the EMAG on the ‘You and Yours’ Recording.
13/12/2013 - EMAG's success in getting pre–1992s paid before Christmas
Since the Budget announcement of £45million for pre–1992 annuitants, EMAG has strained every nerve to impress on the Minister, the Treasury Team, the APPG and the media the importance of getting payments out to these 10,000 oldest and frailest pensioners — previously unfairly excluded. The plan had been to delay payments until April 2014. We thank Mininster Sajid Javid MP for listening to EMAG and the APPG and expediting. 9,000 of the payments will now be made before Christmas. EMAG will continue to campaign for this group for compensation to be on the same terms as their younger annuitant brethren.
13/12/2013 - The Equitable's all–party group (APPG)
The APPG's formal AGM to re–appoint the Executive was held on 5th November at number 1 Parliament Street. Read the minutes of the APPG's formal AGM
The all–party parliamentary group of MPs for Justice for Equitable Life policyholders, now numbering 186 MPs, had previously held a useful meeting with minister Sajid Javid MP on 11 September. Read the minutes of the meeting.
EMAG directors and the MPs present pressed the minister to seek to bring forward the £5,000 payments to pre'92 WP annuitants to be made before Christmas. Subsequent to the meeting, the APPG Executive, wrote to the minister on 23rd October with further requests.
The minister replied to the Executive on 20 November.
13/12/2013 - EMAG succeeds in delaying compensation Scheme's closure
EMAG scored a considerable success through its representations to MPs and The Treasury. The ELPS compensation Scheme was planned to wind down after Christmas and close at the end of March. With 200,000 eligible policyholders currently untraced, EMAG argued the Scheme MUST be extended. On 9 October the minister announced agreement to extend the Scheme's closure date to 30 June 2015. You can download a digest of press cuttings on the extension of the scheme.
13/12/2013 - EMAG works with the Treasury on tracing
Paul Weir and Paul Braithwaite had lengthy and co–operative meetings on improving the tracing of victims with The Treasury's team managers on 16 October and 12 November (and a third scheduled in mid-January). It appears that The Treasury is now listening to EMAG's input and advice, at last. See an example of advertisements placed in the Times, Telegraph, Mail etc. in November to seek to trace individuals eligible for Equitable Life compensation but so far unidentified.
13/12/2013 - The Public Accounts Committee (PAC) report on ELPS and Treasury response
The Treasury was obliged to respond to the PAC's 25 July report. The Treasury duly replied on 18 November. One of the key responses was to recommendation 6:
"6 The Treasury should write to the Committee outlining what action it has taken to make sure the data used by Towers Watson are correct, and what it will do make sure policyholders receive better and fuller explanations on how their payments have been calculated.
6.1 The Government agrees with the Committee's recommendation.
Work in progress: December 2013."
EMAG has wrote subsequently to Margaret Hodge, the chair of PAC, to further protest about ongoing obfuscation and failure to comply with this recommendation.
Read the Treasury's response.
You can download this hard-hitting report into the incompetent administration of the compensation Scheme.
30/10/2013 - EMAG succeeds in delaying compensation Scheme's closure
EMAG scored a considerable success through its representations to MPs and The Treasury. The ELPS compensation Scheme was planned to wind down after Christmas and close at the end of March. With 200,000 eligible policyholders currently untraced, EMAG argued the Scheme MUST be extended. On 9 October the minister announced agreement to extend the Scheme's closure date to 30 June 2015. EMAG also pressed for getting on with national press adverts and EMAG has provided advice on improvements to later versions of the ads.. If you or someone you know may be eligible, please read the advertisement and follow the instructions.
You can download a digest of press cuttings on the extension of the scheme.
30/10/2013 - A minister that listens
EMAG is pleased that in the recent ministerial re-shuffle, responsibility for Equitable's compensation has remained with Sajid Javid MP, who was promoted to become Financial Secretary. Pleased, because Sajid Javid is up-to-speed on Equitable, because he has the ear of the Chancellor and because he has proved to us that he both listens and is willing to intercede. If only that could be said of his predecessor, Mark Hoban MP, who was sacked in the latest re-shuffle, after being demoted one year earlier.
30/10/2013 - The Equitable's all-party group (APPG)
The all-party parliamentary group of MPs for Justice for Equitable Life policyholders, now numbering 184 MPs, held a useful and well-attended meeting with minister Sajid Javid MP on 11 September. Read the minutes of the meeting.
EMAG directors and the MPs present pressed the minister to seek to bring forward the £5,000 payments to pre'92 WP annuitants to be made before Christmas. Subsequent to the meeting, the APPG Executive, wrote to the minister on 23rd October with further requests.
The APPG's formal AGM to re-appoint the Executive is to be held at 2.00pm on 5th November (note the date!) in Room C, 1 Parliament Street.
30/10/2013 - The pre-1992 WPAs
There has been considerable confusion over the new compensation Scheme for the pre-1992 with-profits annuitants, previously excluded. Many policyholders have got the wrong end of the stick and thought the £5,000 was meant for everyone who started a with-profits policy before 1992. The description of the new Scheme can be found at: https://www.gov.uk/government/publications/equitable-life-payments/equitable-life-payments
If you think you may be eligible, please do NOT contact ELPS or The Pru, but write instead to The Treasury quoting your pre-1992 with-profits annuity policy number at this address:
Equitable Life Pre-1992 WPA Payments,
HM Treasury,
1 Horse Guards Road,
London
SW1A 2HQ
After we raised the issue with the Treasury, we can confirm that those WPAs who receive Housing Benefit will not have that stream of payment prejudiced by the £5,000 payment. The Department of Works and Pensions (DWP) has written to Local Authorities. (who administer Housing Benefit) to remind them to disregard the pre-92 payments for Housing Benefit purposes. The payments are disregarded for tax purposes and do not affect other social security benefits.
On the question of Council tax reduction, the government has devolved the power for CTR to local governments and they set their own eligibility criteria. The payments could theoretically impact on CTR eligibility for FY2014/2015, depending on the individual local policy. This policy is overseen by the Department for Communities and Local Government, who issue an annual guidance note to local authorities on CTR. Whilst local authorities have no obligation to follow it, the Treasury has asked them look at including a note on these payments in it.
Meanwhile, EMAG is seeking expedition of the £5,000 payments, hopefully to be received before Christmas. And EMAG will continue to campaign for parity of treatment with the post-92 WPAs, such that pension shortfall payments will continue as long as the annuitant lives.
30/10/2013 - EMAG working with The Treasury
Paul Weir and Paul Braithwaite had a lengthy and co-operative meeting on improving the tracing of victims with The Treasury's team managers on 16 October and a further meeting is scheduled for 12 November. It appears that The Treasury is now willing to listen to EMAG's input and advice, at last.
30/10/2013 - The Public Accounts Committee (PAC) report on ELPS
The Treasury is obliged to respond to the PAC's report and this is expected by mid-November. It must provide not more than 100 word answers to each of the PAC's recommendations.
You can download this hard-hitting report into the incompetent administration of the compensation Scheme.
EMAG's standing was considerably enhanced by the multiple references to the campaign group and by the instruction to The Treasury that it should work with EMAG. To get a feel for the roasting given to the Treasury by the PAC it is perhaps most interesting to read the PAC's press release containing the key recommendations.
30/10/2013 - EMAG's AGM
EMAG members should have received by post their annual report and accounts for the year to 30 June, 2013 in week commencing 21 October. The AGM will be held at the BMI in Birmingham, per the last three years, at 2.30pm on Thursday 14 November. The keynote speaker will be Stephen Lloyd MP, who is the Secretary to the Equitable Life APPG. Current paid-up members of EMAG are eligible to attend. Have you posted your renewal yet?
06/06/2013 - The Public Accounts Committee (PAC) hearing
The PAC evidence session on 15 May, to consider the National Audit Office's report ‘Administering the Equitable Life Payment Scheme’, heard from EMAG directors Paul Weir and Paul Braithwaite, plus Peter Scawen representing ELTA. It was a ‘no holds barred’ session and it is well worth the time to read the transcript – see the link above.
For one example, read a comment by Paul Braithwaite on the Treasury.
The witnesses' evidence was used by MPs on the committee as a launch-pad to give the Permanent Secretary to the Treasury, Sir Nicholas Macpherson and Mike Williams the Treasury Director responsible (since 2010) for the Equitable Life Payment Scheme, a VERY hard time. In fact it was subsequently described by the NAO's director Steve Corbishley thus:
"The PAC session with the Treasury witnesses was much more ‘robust' than the experience of other PAC sessions with the Treasury."
You can watch the TV recording of the entire session.
06/06/2013 - The All-Party Parliamentary Group meeting 15 May
The PAC meeting was followed just a couple of hours later by a meeting of the APPG. Unfortunately, at the last minute, the meeting clashed with the controversial debate on an EU referendum. Steve Corbishley, the director responsible for the excellent NAO Report (see below) presented the top-line findings of the study
EMAG directors Paul Braithwaite and Paul Weir summarised their evidence to the PAC and commented on the PAC meeting and Treasury grilling.
The minutes, now approved, are very interesting
06/06/2013 - The APPG rises to 181 MPs
Membership is now up to 181 backbench MPs. The next meeting of the group will be on Wednesday 11 September, when the Treasury minister responsible, Sajid Javid MP, will attend. By then the third quarterly progress report in 2013 of ELPS should have been published. The second one, published on 10 May showed that with just 11 months to go, 40% of the billion pounds promised to be paid out by April 2014 had still not been distributed.
See the full list of APPG MP members:
www.emag.org.uk/justice_group.php
06/06/2013 - Treasury hell bent on closing the scheme
At every turn the Treasury reiterates its determination to close the compensation scheme by April 2014. Complacently, the Treasury reports it doesn't expect to trace 17–20% of the one million policyholders eligible for compensation.
Why, then, does it plan to leave advertising to try and track down the missing eligible members until the Autumn, when it should be doing that now? The rushed closure date seems inappropriate and unrealistic. We are repeatedly told "Members want closure" when, in reality, it is only the Treasury that is desperate for ‘closure’.
And what is going to happen to the tens of millions of pounds allocated that either won't be distributed? The £45million ex gratia payment for the pre-1992 with profits annuitants announced in March's budget cannot be funded from this, because it was announced that the £45m is additional money requiring legislation - hence the excuse for the unfortunate one-year-long delay in payment to pensioners whose average age is in their mid-80s.
EMAG anticipates a hard-hitting report from the PAC embracing these issues and more.(and from what's ALREADY on EMAG's website)
06/06/2013 - The NAO Report into ELPS's administration
On 24 April the National Audit Office (NAO) published a damning report into the administration of the Equitable Life Compensation Scheme (ELPS). It told us what we all already knew but, more to the point, it confirmed to MPs what we have all been telling them.
Read the extensive press reports.
You can download the NAO's summary and full report from the NAO's website.
05/05/2013 - The NAO Report into ELPS's administration
On 24 April the National Audit Office (NAO) published a damning report into the administration of the Equitable Life Compensation Scheme (ELPS). It told us what we all already knew but, more to the point, it confirmed to MPs what we have all been telling them.
Read the extensive press reports.
You can download the NAO's summary and full report.
05/05/2013 - The Public Accounts Committee
Margaret Hodge MP is chair of the powerful Public Accounts Committee. On the afternoon of 15 May her committee of MPs will hear oral evidence from EMAG's Paul Weir and Paul Braithwaite and from Peter Scawen from ELTA about the ELPS Scheme’s abysmal administration.
05/05/2013 - UKIP is destabilising the status quo
It is exactly two years until the next General Election (7 May, 2015). The results of the 2 May local elections, with far more seats going locally to UKIP than any expectations, has sent a shudder through all three national parties. This shaking of confidence will cause MPs to be more receptive to hearing what concern their constituents – particularly the elderly, who tend to exercise their votes.
05/05/2013 - The Treasury asks EMAG for help
In the wake of the dreadful admission that up to 20% of Equitable Life's victims haven't yet been traced, the Treasury has asked us to publicise this statement:
"Policyholders who believe themselves to be eligible and have not heard from the Scheme by April 2013 should first confirm that their policy is eligible for the Scheme by telephoning the ‘Policychecker’ service.
"After this, they should write to the Scheme to state their eligibility for the Scheme, quoting their full name, address and their Equitable Life policy number."
05/05/2013 - APPG to meet on 15 May
The next meeting of the 178 strong APPG group of MPs will be held in Committee Room 9 at 6.00pm on Wednesday 15 May. The subject will be the NAO's report into ELPS. MPs will hear from the NAO director responsible, Steven Corbishley, and EMAG directors. Please, write to your MP and ask them to attend.
05/05/2013 - Equitable Life's AGM
Once again the Equitable Life's AGM will be held at the Holiday Inn, Regent's Park, at 11am Monday 20th May. EMAG directors Paul Braithwaite and Paul Weir have been invited by Equitable Life’s board to attend.
22/03/2013 - The budget brought a triumph for EMAG
In this economic climate and against a backcloth of repeated assurances that "There will be no more money", it was an astonishing achievement to get included in this budget a promise of a partial compensation payment for the pre–1992 WPAs that EMAG members have fought so hard for. It is great credit both to EMAG's members and to the support we've generated amongst backbench MPs in the 181–strong All Party Group. This is a terrific achievement and a vindication of EMAG's strategy to use the pre–1992s to force open the door to keep the prospect of increased compensation a live issue, despite the state of the economy.
Read the extensive press coverage which gave EMAG due credit for this breakthrough.
Here's what George Osborne said:
"there's another group of savers I want to talk about today.
I am proud to be part of a government that has helped compensate the policyholders of Equitable Life who had suffered a great injustice. But we've not extended help to those who bought their With Profits Annuity before 1992.
Now we can. I'd like to acknowledge the work of my Honourable Friend for Harrow East (MP Bob Blackman) on behalf of these people.
We will make ex–gratia payments of £5,000 to those elderly policyholders; and we'll make an extra £5,000 available to those on the lowest incomes who are on pension credit.
We're not doing this because we're legally obliged to; we're doing it because quite simply it's the right thing to do..."
Read the Treasury's explanation and Q & A.
However, it's more jam tomorrow
The meanness continues: The £5,000 payments are unlikely to be forthcoming for about a year. WHY? A pre–1992 annuitant, if he retired aged 65 in 1992 is already 86 years old. Further, the minister responsible, Sajid Javid wrote to all MPs:
"..the Government remains of the view that there is no basis for their inclusion within the wider Scheme.
These payments are to help this group of elderly policyholders who may be living with a reduced annuity income, and to relieve some of the pressures associated with this. The Government is not under any legal obligation to make these payments. I therefore anticipate payments commencing in the financial year 2014–2015 or earlier if possible."
Mealy–mouthed or wot? Why, once again, are victims going to have to wait? Clearly, we will still be campaigning on and on for the fairer treatment of all of Equitable's victims. EMAG's strategy continues to be proper compensation for ALL.
26/02/2013 - EMAG's Eastleigh rally
On 23 February several dozen local EMAG members braved the bitter cold to confront the by–election candidates and gain local publicity for the injustice that continues to be perpetrated against the Equitable Life's victims. The protestors received a sympathetic hearing from all the leading candidates.
A terrific team effort that warrants congratulations to all who helped organise.
Read the Southern Daily Echo's coverage 25 February
And EMAG's press release.
See more photos of the Eastleigh Rally.
The ambition of candidates in Eastleigh
Subsequently, all four parties' candidates have personally signed the EMAG 2010 Pledge (as signed by 379 sitting MPs), which promises on behalf of their constituents, if elected, to support and vote for proper compensation and a swift, simple, transparent and fair payment Scheme — as recommended by the Parliamentary Ombudsman. Further, all four candidates have also undertaken that they would join the APPG. This demonstrates the incredible leverage that EMAGs regional activists can wield in an election. We have been reminding the candidates that there are 2,500 Equitable victims and families in that one constituency.
26/02/2013 - National Audit Office (NAO)
The report by the NAO into the efficient running (or otherwise) of the ELPS compensation Scheme's administration is expected to be published on 20 March and be considered by the Public Accounts Committee (PAC) at a date to be confirmed in April.
26/02/2013 - EMAG wrote to the minister
On 7 February, EMAG wrote to the minister, Sajid Javid MP, with four specific questions. As of 26 February, no answers. Read the letter.
EMAG has also recently sent detailed briefing letters to Tory MPs and a separate one to Lib Dems. These letters are available only to current EMAG members. Did you renew your subscription to EMAG this year?
26/02/2013 - News of the APPG
On 14 February the Executive of the APPG wrote to Sajid Javid to pursue a number of questions that EMAG members had been asking of their MPs and to invite him attend the next APPG meeting.
26/02/2013 - ELPS Compensation Scheme update
After a wait of more than seven months, an update on the ELPS Compensation Scheme was published on 5 February. Its headline was that that £535 million has now been paid out. The Coalition's commitment is to distribute £1bn by April next year, so there's a way to go.
How can ELPS have only processed 6,000 more with profits annuitants in the seven months since its last update, leaving 6,000 more still without having received a single penny? Henceforward, we are promised quarterly updates. EMAG continues to fight for the pre–1992 with profits annuitants to be included on the same terms.
06/02/2013 - ELPS third update published
Read and weep — equitablelifepaymentscheme.independent.gov.uk/pressfaq/news.htm
How can they have only processed 6,000 more with profits annuitants in the seven months since the last update, leaving 6,000 more still without having received a single penny?
We will be sending a newsletter email update evaluation of this statement exclusively to EMAG members.
31/01/2013 - ELPS Compensation Scheme update
After a wait of more than seven months, an update on the ELPS Compensation Scheme will be published circa February 5th. It will headline that £500 million has now been paid out. The Coalition's commitment is to distribute £1bn by April next year, so there's a way to go. No doubt it will make light of the litany of ELPS cock–ups. Henceforward, we are promised quarterly updates.
In a written answer (29th Jan) to a question from Dr Therese Coffey MP, minister Sajid Javid stated: "I will work closely with them (the scheme administrators)on a regular basis to ensure that things can be improved."
31/01/2013 - National Audit Office investigating ELPS
The NAO is conducting an investigation into the ELPS, to go to the Public Accounts Committee on 20th March (tbc). EMAG directors supplied two written briefing papers in advance of meeting the NAO's team of six in mid–January. Subsequently, EMAG has provided (with policyholders' consent) a large number of appalling case studies.
To say that EMAG has been ‘helping them with their enquiries’ is an understatement!
Equitable's APPG's joint chair, Fabian Hamilton MP, has added his three–penny worth.
31/01/2013 - Ambitious Mr Sajid Javid MP
The rising star minister Sajit Javid MP is on TV and radio with increasing regularity — most recently on the subject of regulating Payday Loans (R4's World at One, 29 Jan). To receive a full–page hagiography by James Forsyth in the Spectator flags that he is ambitious for far higher office.
Meanwhile, the 9,000 Equitable pensioners who retired before 1992 are denied any compensation on a ‘black–letter law’ technicality. MPs across the country are besieged about this savage injustice but Javid blames them. There's a £100m contingency fund in the agreed compensation package. What's it for or was it just a rounding number that the Treasury has no intention to dispense? Thatcherite Mr Javid keeps his hands in his pockets in the expectation of being rewarded with political promotion.
31/01/2013 - An exchange about the pre–92s
It had come to EMAG's attention that the new Treasury minister's first line of defence on exclusion of the pre–1992 annuitants was that ‘There is no more money’. EMAG wrote to him on 10th January to explain why redressing the pre–1992's didn't need new money.
Whilst the explanation was acknowledged, Sajid Javid's letter was predictably non–committal.
31/01/2013 - Honor Blackman is President
At EMAG's 78th board meeting on 15th January, 2013 Honor Blackman, who was in attendance, agreed to be appointed as EMAG honorary President. The board is delighted!
31/01/2013 - Treasury's spinning
EMAG members have been provided with a briefing about the Treasury's ongoing dissembling that is being fed to gullible MPs, such that they are well informed of how to respond. Available only to EMAG members.
