Corporate report

Equitable Life Payment Scheme: further information on the payment calculation

Example calculations designed to help policyholders gain a better understanding of the payment calculation the Equitable Life Payment Scheme has carried out.

• From: HM Treasury
• Published: 23 July 2014
• Last updated: 25 July 2014 — See all updates

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

Documents

Calculation overview for accumulating with-profits policies

PDF, 648 KB, 18 pages

Example Calculation A: Life - policy in force at 31 December 2009

PDF, 808 KB, 12 pages

Example Calculation B: Pensions - policy in force at 31 December 2009

PDF, 800 KB, 12 pages

Details

Further information on the payment calculation has been produced by HM Treasury with the Government Actuary’s Department to help policyholders gain a better understanding of the payment calculation the Equitable Life Payment Scheme has carried out. Stakeholder feedback has been taken into account in the design and content of this information and we welcome feedback from policyholders on the publications to help to improve these and future publications.

The calculation overview for accumulating-with profits policies document explains the Equitable Life Payment Scheme’s calculation of relative loss and the payment which policyholders receive from the Scheme for eligible accumulating with-profits (AWP) policies.

The accumulating with-profits calculation examples set out simplified explanations of the payment calculation for AWP policies. The examples and return rate tables have been simplified to make the calculation easier for policyholders to follow.

Published 23 July 2014
Last updated 25 July 2014 + show all updates

1. 25 July 2014

   Added 'Calculation overview for accumulating with-profits policies' pdf

2. 23 July 2014

   First published.