Eastbourne MP Stephen Lloyd has welcomed news that the Equitable Life Payment Scheme will be extended until 2015.
Mr Lloyd, who has been fighting for justice for the policy holders who lost their savings, said it was ‘great news’.
Mr Lloyd, who is the executive secretary of the Justice for Equitable Life Policyholders All Party Parliamentary Group (APPG), has welcomed the extension of the deadline, as well as the plans for a national advertising campaign aimed at encouraging policy holders to come forward and claim their payment.
He said, “This is a great win for the APPG and a testament to the furious lobbying by Equitable Life policy holders.
“We have long been arguing for greater justice for policy holders, and as we have pointed out to the Government, it is terrible that many have still not received justice.
“The announcement of an extension is therefore welcomed, since it will ensure that hundreds of thousands, including an estimated 400 in Eastbourne and Willingdon alone who remain unidentified, can be found and correctly compensated.
“Following a successful pilot scheme that I championed in Eastbourne and which informed potential claimants about compensation, I am also glad to see that the Government is advertising this more widely so that many more policy holders will receive the payments they rightly deserve.
“We are now one step closer to some justice for all Equitable Life policy holders.”