BBC News

Equitable Life compensation payments 'in 2011'

Savers who lost money in the Equitable Life pension company should start receiving compensation payments in the middle of 2011, the government has announced.

The Treasury minister Mark Hoban has confirmed that savers will be compensated for their "relative loss as a consequence of regulatory failure".

An independent commission has been set up to advise on the best way to allocate payments.

It will report by January 2011.