From The BBC:
The High Court has approved the government’s plan for limited payments to those who lost money in the Equitable Life pension company.Last year, the Parliamentary Ombudsman called for a full compensation scheme for over one million Equitable members. The government’s rejection of that idea was challenged in a judicial review. But campaigners who launched the action say the court’s ruling means the government’s scheme will now have to cover more people than first planned. Lost savingsThe judicial review was brought by the Equitable Members Action Group (Emag).
It challenged the refusal of the government to accept all the findings and recommendations of the Ombudsman’s report into the role of government departments in the Equitable Life collapse, published last year. The Ombudsman, Ann Abraham, found ten examples of maladministration which she said had contributed to the devastating losses suffered by pension savers with the Equitable after the society was forced to close in 2000. Instea…
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