The government's Equitable Life Payments Scheme (ELPS) has now issued over £990.5m worth of payments.
The Treasury has spent more than £2.6m administering the Equitable Life payments scheme (ELPS) in the three months to November, government figures have shown.
The government has extended a payment scheme for Equitable Life policy holders to mid-2015 and is due to launch an advertising campaign to encourage more policyholders to come forward.
The Treasury is to launch an advertising campaign promoting the Equitable Life compensation scheme after a damning report said its performance had been "unacceptably poor".
Equitable Life has appointed BlackRock to provide investment and risk management services for its 400,000 policyholders and group scheme members.
As faith in traditional pension schemes wanes, more and more people are turning to ‘real' Sipps to take charge of their pensions