Policy paper

Equitable Life Payment Scheme design

Documents explaining the design and rules of the Equitable Life Payment Scheme.

• From: HM Treasury
• Published: 1 July 2014
• Last updated: 23 September 2014 — See all updates

This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

Documents

The Equitable Life Payment Scheme design

Ref: ISBN 978-1-84532-875-7

PDF, 577 KB, 53 pages

Technical annex: loss calculation method and payment value assumptions used

PDF, 521 KB, 96 pages

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Clarifications to the Equitable Life Scheme design

PDF, 972 KB, 77 pages

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Details

The Equitable Life Payment Scheme design document explains the design and rules of the scheme in full, and also provides background information to the scheme.

The technical annex sets out the methodology and assumptions used to determine the relative loss or relative gain for eligible Equitable Life policies. It explains how those losses and gains are offset for each policyholder, and how, after allowing for the proportion of losses to be paid, the de minimis amount is applied.

The final document provides clarifications on the design of the scheme and its technical annex. The clarifications listed should be read in conjunction with the original documents and form part of those documents.

Published 1 July 2014
Last updated 23 September 2014 + show all updates

1. 23 September 2014

   Updated Clarification document

2. 1 July 2014

   First published.