Equitable Life Payment Scheme contacting Irish policyholders

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Sumatra

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Equatable Life Payment Scheme now contacting Irish policyholders regarding payment for financial loss suffered as a result of maladministration in the regulation of Equitable Life.
 
Just got my letter today. It asks me to complete a form and send it back with proof of id and address (e.g. certified copy of passport and bank statement/utility bill). No more info than that so far. I have no idea what, if any, payment might ultimately be involved.
 
I got my letter recently. it wanted proof of my ID and said I would get some payment in sterling cheque form. I called Equitable themselves to verify it wasnt a phishing scam as the letter wasnt from them directly at all.
 
Any cheques issued yet?

Has anyone received a cheque yet? I completed all the paperwork more than a month ago, received back all my original documents but still no sign of a cheque...
 
A friend of mine has a policy with Equitable Life, but has not heard anything from them. He has been told that there is a deadline for making claims, but has been unable to find out how to make contact in order to make his claim. Can anyone provide a contact number or email address for Irish policyholders?
 
Actually I had a look at the link in post #3 and that gives a contact number and email address that I have passed on to my friend. If they don't work, I might be back on here looking for help.

Regards
Homer
 
I received a letter today enclosing a statement advising amount of payment to be made to me. It advised I will receive a UK Government crossed warrant (like a cheque) in the next few days. Happy days !

Tel number if calling from outside UK +44 (0) 141 232 1377
 
Tedd, no actual cheque yet just a letter received from Equitable Life Payment Scheme which was dated 16th July and received 19 Aug. I'm surprised the payment will be made in Sterling (any banking chages imposed by overseas bank for receiving the money in this way will be borne by the policyholder) when policy was in IR£ and later € and I thought the Irish fund was ring fenced. Must have been combined at some stage and I missed it. Anyway, they say 'payments not subject to UK income Tax so you don't have to declare them to HM Revenue & Customs'. I assume Revenue here won't be interested?

Homer if calling from UK the number they gave on the communication sent to me is +44 (0) 141 232 1377
 
Sterling cheque received and lodged to bank account today. Small commission charge but no problems.
 
Thanks Sumatra. Mine has arrived too. Certainly won't make up the losses but anyway....
 
Tedd, payment was smooth in the end but doesn't Rainyday have a point regarding unit linked investors? Come to think of it what about their life assurance policies, didn't they have to go get cover elsewhere at additional cost?
 
I completely forgot to send in my claim. How long do I have to do this ? I have to try find the letter etc ...
 
bullworth said:
I completely forgot to send in my claim. How long do I have to do this ? I have to try find the letter etc ...
Click to expand...
The scheme is open until April 2014 according to the website. Stick in a claim ASAP if possible.

I got a letter back c. March listing one policy (a WP Bond) that I had with them and saying that I was ineligible. In fact I had two policies with them - this one and a WP personal pension plan. So I wrote to them with details of both and the necessary id (certified copy of passport, proof of address, proof of PPSN (?) etc.). This week I got a letter saying that I was due a payment on both policies. Note that they are paying 22.4% of the nominal shortfall that they estimate.

So if you got a letter saying that you were ineligible send in your details again anyway in case they are mistaken.
 
Got my payment warrant in the post.
Anybody know what's the most cost effective way to cash/clear/lodge a GBP£ warrant?
I presume I'll be hit for forex and transaction fees...?
My main banking is with PTSB.
 
Equitable website says that compensation payments are not subject to UK tax for UK residents. Does anyone know if they are subject to tax over here for Irish residents, in respect of an Irish EL policy?
 
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