Policyholders who lost money as a result of the problems at Equitable Life will receive around 1.5 billion in compensation, it was announced today.

The sum is three times higher than the 400 million to 500 million that former Appeal Court judge Sir John Chadwick recommended that policyholders should receive (see the Pension MoneySaving guide).

But it is well down on the 4.8 billion that it is estimated policyholders have lost, compared with what they would have got if they had invested their money with another life insurer.

Further reading/Key links

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