Standard Life is refunding Pension Sterling fund investors 'lost interest' if the insurer agrees that they had been misled by its marketing literature. The insurer is calculating compensation based on what savers would have received if they had gone into the Standard Life Cash fund, which would have 'performed more in line with a bank or building society'.   Related Articles Standard Life savers demand compensation Comment: Our Standard reaction is not to trust anyone Standard Life bows to pressure over Pension Sterling Fund compensation Comment: Complete capitulation from Standard Life on Sterling fund Standard Life urged to compensate all savers in 'toxic' cash fund Two weeks ago, the Financial Services Authority handed the insurer a £2.45m fine for misleading up to 98,000 investors who bought its Pension Sterling fund. Even though the fund was promoted as being invested "wholly in cash – the most stable of investments'', it fell by 5pc. Standard Life "voluntarily" ploughed in enough money to cancel out the loss – but it did not pay any loss of interest at the time.[Read more...]