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200,000 policyholders may miss payouts from Equitable Life


As of last month National Savings & Investments, had made 35% of the payments worth £577m but spent 72% of its budget

More than 200,000 people who took out policies with collapsed insurer Equitable Life may never get their share of £1.5bn compensation because the government cannot trace them, according to the official spending watchdog.

Failure to track down the ageing policyholders could mean that up to 20% of those entitled to compensation will lose out, the National Audit Office has warned, in a hard-hitting report released that accuses the Treasury of poor preparation in setting up the redress scheme...