Pru forced to return £4m after pensions error

It is offering customers "correction payments" of between £100 and £1,000 each, worth £4m in total, to make up for the error. The mistakes were made in Scottish Amicable unit-linked pension plans between June 2004 and December 2008, the Telegraph reports. A Prudential spokesperson explains the insurer had assumed its subsidiary Scottish Amicable would deduct tax from the investment income earned by pension funds and recovered against its own tax liability. During a routine audit, the Pru found this was not the case and amended its prices for the pensions in December 2008. Howeve...