9:55am Thursday 11th March 2010
By Neil Skinner
A campaign group whose members lost up to 50 per cent of their pensions during the near collapse of the Equitable Life assurance society has welcomed the support of Watford MP Claire Ward.
Members of the Equitable Members Action Group (EMAG) Hertfordshire and Middlesex Branch had previously been critical of Ms Ward’s reluctance to join an all party group of MPs supporting compensation payments, branding her stance “bizarre”.
Ms Ward, however, this week joined six other local MPs to have registered their official support for the group – which has requested compensation from the government because of alleged regulatory failings in the run up to the failure of Equitable Life a decade ago.
In a letter to EMAG chairman explaining her decision, Ms Ward explained: “My understanding was that I could not join the APG for Equitable Life as I am a minister. “I understand, following discussions with my colleague, Gareth Thomas MP, that this is not the case providing we are not active officers of the group. “On that basis, I am prepared to join the APG and have advised them of this position.
“I repeat again that I very much hope that a positive solution and announcement for the benefit of Equitable Life policy holders will soon be made."
Mr Pole said he was “very pleased” by the decision.
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