Standard Life admits seven year statement error

Although around half of the affected members incurred an error of less than £25, there are certain cases where the discrepancy has been "significant," the life and pensions firm confirmed. A Standard Life spokesman said 6800 customers have been affected by the error, with 4200 having been overstated in units allocated, and 2600 understated. He explained the error stemmed from Standard Life re-pricing the majority of its pensions book in 2001 and 2002. While this restructure reduced the number of charges and the overall value of the charge on plans, the process required moving inves...