Equitable Life Payment Scheme
The Equitable Life Payment Scheme was set up in 2010 to make ex-gratia payments to eligible policyholders who had suffered a loss in the regulation of Equitable Life.
Over £1 billion has been paid to over 930,000 Equitable Life policyholders through
the Scheme. HM Treasury (HMT) were responsible for the Scheme policy.
NS&I Government Payment Services (NS&I GPS) were chosen by HMT to process payments and manage customer interactions via phone and post. This decision was taken because NS&I GPS could quickly establish the service.