Winchester MP Mark Oaten reaffirms support for Equitable Life claiments

Local MP Mark Oaten has issued support to all constituents who contacted him over their financial claims with Equitable Life. Mark expressed his concerns over the Governments lack of progress and reassured constituents he would press for improvements over a compensation scheme in Parliament. 

Currently in Westminster the Government are considering the recommendations issued by the Ombudsman in her report. Debates, which have covered both former Equitable Life policyholders and the Ombudsman’s published report, have been well attended.

Encouragingly there appears to be cross-party support amongst MP’s supporting a compensation scheme for former Equitable Life policyholders to be reimbursed fairly and promptly.  

However there has yet to be any formal commitment from the Government, with some suggesting that any claims should be put on hold due to the current economic climate. MP’s are attempting to keep this issue on the political radar.

In Parliament Mark has signed the Early Day Motion 2230 set up by his Liberal Democrat colleagues calling on the Prime Minister and the Chancellor to immediately implement the Ombudsman’s recommendations following the collapse of Equitable Life. 

Mark Oaten commented:

“I am encouraged by the cross party support in Parliament, this should be above party politics.

“Constituents who have been effected by this dire sequence of financial maladministration at Equitable Life deserve to be reimbursed fairly and promptly, they have earnt the right, after so many years of hard graft at work, to be able to face their retirement with confidence.

“At a time of such economic turbulence it further emphasises the importance of this case, Equitable Life clients need to retain their assets and become financially stable once again.