Should compensation for Equitable Life victims be paid from the public purse?
No, the taxpayer shouldn't have to foot the bill
52% (16 votes)
Yes, one role of the public purse is to maintain confidence in the financial markets
48% (15 votes)
Total votes: 31
Vote now on our poll
Should people be allowed early access to their pension savings?
Yes they should be allowed unlimited early access
0%
Yes but access should be limited
30%
No
70%
Total votes: 10
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Comments
Equitable Life was a commercial company investors should have known that in any form of investment there are risks to be taken. We've had Northern Rock should Government bail out every financial institution that gets into bother I think not. National Savings would be the only savings vehicle left!
All investors had the opportunity to invest via an Independent Financial Adviser. They have to answer for any bad advice given. Instead Equitable Lifes investors chose to invest with Equitable Life direct. It was up to the investor to satisfy themselves as to the solvency of the company.
Remember, 'Caveat Emptor' - Let the buyer beware.
but this latest review found that the government and others failed to properly regulate Equit Life,surely if it had done its job properly then things might not have gone so badly wrong as it were and these people wouldn't need compensation at all? So the government should compensate people for the mistakes it made, surely?
Surely without regulation "the gains" / "risk" would have been greater and in any event who in their right mind would invest without first obtaining good independent advice.
Was it the additional benefit(potential rewards) that attracted them to Equitable Life in the first place.
I wholly agree with rdudge 'Caveat Emptor' - Let the buyer beware.
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