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Page last updated at 13:22 GMT, Saturday, 19 December 2009

Standard Life Pensions

Nearly a year ago Money Box reported on the Standard Life Pension Sterling Fund. It was marketed as a cash fund where pension money could be safely deposited.

But without telling its customers or their advisors Standard Life put nearly half the money at risk in other assets - including bundles of sub-prime mortgages.

The result was that people could and did lose money. After many complaints Standard Life decided to compensate some customers for some of their loss.

But customers who invested before 23 December 2008 were excluded.

One of them, John Petrie, took Standard Life to court. This week he got the judgment he had been hoping for when the judge ordered the insurance company to return the sum lost with interest.

This item was first broadcast on Radio 4's Money Box on Saturday, 19 December 2009

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