Fund price errors at Clerical Medical

The price errors affected unit-linked pensions, life and bonds policies. With-profits policies and Oeics were not affected. The provider says fewer than 5% of its 2 million customers were hit, and of those “the majority benefited from the pricing error”. “They are keeping their gain, “ the provider says. Some 81,000 policies gained and some 59,000 lost out, with the average gain standing at £144, and the average loss at £95. Those that did lose out are being made good. The figures mean the company overpaid those who gained by more than £11.6m, which added to the losses made good of s...