One-third of the most deserving and elderly Equitable Life victims has yet to receive any compensation 12 months after the pay-out scheme was launched.
Of the 37,000 ageing pensioners who hold with-profits annuities, 12,000 have yet to receive even a first payment, despite the Treasury promising to achieve that within a year, campaigners said this week.
The 40,000-member Equitable Members Action Group (EMAG) responded angrily to a statement from Financial Secretary Mark Hoban, claiming that two-thirds of victims had been paid out, saying the boasts masked a "shambolic failure to deliver the compensation promised".
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