Government ministers have been accused of mishandling the Equitable Life case, in which over a million policyholders are still waiting for compensation.

Judge Sir John Chadwick is now reviewing the case, but it is unclear how long the review will take and if any policyholders will receive any of their money back.

Paul Braithwaite, general secretary of the Equitable Members Action commented that around 90% of investors who had lost money would be exempt from compensation under the government process.