Honor Blackman joins fight for Equitable Life payouts

Honor Blackman joins fight for Equitable Life payouts

Former Avengers star and Bond girl Honor Blackman today added her voice to a protest demanding government compensation for the one million victims of the Equitable Life debacle.

About 400 policyholders and campaigners took part in a rally and demonstration outside the Houses of Parliament, at which 15 wooden coffins were borne aloft to symbolise the 15 Equitable Life pensioners who die each day, "waiting for justice".

Guest of honour was Blackman, who told the Guardian that half of her Equitable pension "went down the drain" as a result of the insurer's near-collapse. "I should think probably in three years' time, if I live that long, there won't be anything left," she added.

Joanna Lumley, another actor who also starred in the Avengers, helped pull off a famous victory over the government on Gurkhas' rights, and perhaps the Equitable Life protesters are hoping that Blackman will give their campaign a similar boost.

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A million customers saw their retirement savings slashed when Equitable was plunged into chaos by a court ruling a decade ago.

Hundreds of thousands more victims of the affair could now be entitled to compensation, after policyholders last month claimed a high court victory in their long battle with the government over payouts. Two judges quashed the Treasury's decision to reject a number of findings of injustice and maladministration made by the parliamentary ombudsman, who carried out a detailed investigation into what went wrong.

Emag, the Equitable Members Action Group, said the ruling would dramatically increase the number of people eligible for payouts. It added that the battle now was about who would get redress and how much they would receive.

Blackman described what had happened to Equitable's policyholders as "horrifying". She added: "I can't claim any hardship, but I would be distinctly panicked if I'd not been able to work." Many of the older victims cannot go out and recoup what they have lost. "They have practically nothing left – and some of them nothing at all. I think the government is cynically hoping we will all drop off the twig. People should be compensated."

Paul Braithwaite, Emag's general secretary, described the proper compensation that policyholders believed was due as a "debt of honour" that should not be ignored because the public finances are in a bad state. "What's £4bn or £5bn when compared with the billions that have been wasted to prop up the banks? It'd be pocket money well spent if it goes towards restoring faith in pensions."

Vince Cable, Liberal Democrat Treasury spokesman, who attended the demonstration, said: "Regardless of the means of delivery, it is vital that parliament asserts its authority to ensure the people who have been affected by this scandal receive proper compensation quickly. It's not a question of charity, it's a question of justice."

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