Compelo Banking is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

Standard Life admits error in calculating with-profits payouts

Numerous Standard Life policyholders may have been short-changed by the recently-floated company, according to a newspaper report.

The Daily Mail newspaper reports that Standard Life has admitted a miscalculation in its assessment of payouts due to certain with-profits policyholders, and some holders of Homeplan endowment mortgage products.

The Daily Mail claims that up to 10,000 policyholders could be hit by the blunder, and that Standard Life has written to all those affected to inform them of the problem and organize top-up payments.

Customers who cashed with-profits bonds between January 2005 and the end of May 2006, and those who have received a Homeplan payment in 2006, could be involved, although only if they bought bonds since 2001, or the Homeplan product between 1991 and 2001, the report adds.