Pensioner wins payout over Standard Life sterling fund

clock

A pensioner who lost out when Standard Life's Pension Sterling fund plummeted in value has successfully taken the firm to court.

John Petrie, a retired businessman, has been awarded compensation, lost interest and court fees after the so-called ‘cash fund' investment fell in value, according to the Daily Mail. Early this year, the Pension Sterling fund, which was partially invested in risky mortgage-backed assets, saw its value suddenly fall by 5%. Standard Life had agreed to pay our compensation to those affected, costing the firm around £100m, but it did not compensate investors who had been affected by an earlier reduction in the funds value. In November 2008, the fund fell by 0.5%, which was enough to pr...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers look to capital accumulation in Q2 2025

Advisers look to capital accumulation in Q2 2025

Interest in inflation protection nudges up

Jen Frost
clock 18 July 2025 • 3 min read
For companies – and their investors – management matters

For companies – and their investors – management matters

'Management, whatever the setting, really is a difference-maker'

Gabriel Sacks
clock 17 July 2025 • 4 min read
'No difference in my view': Reeves LTAF-ISA decree not enough to make platforms offer them

'No difference in my view': Reeves LTAF-ISA decree not enough to make platforms offer them

Retail platforms await further rule change details

Eve Maddock-Jones
clock 16 July 2025 • 4 min read