MPs slam compensation scheme delays

More than 200,000 victims of the collapse of Equitable Life may miss out on compensation payments because of failings in a Government scheme, a scathing report by a Westminster spending watchdog warned today.

The House of Commons Public Accounts Committee accused the Treasury of adopting an "arbitrary" target of March 2014 to close the compensation scheme, and urged it to take urgent action to track down as many former policyholders of the failed insurer as possible before the deadline passes.
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