CIS cuts with-profits 2003 bonuses

CIS has cut 2003 bonus rates on its with-profits and investment policies. Policyholders outside an Isa will receive a annual bonus of 2%, down from 2.5%, offered in 2002. Personal pensions are to pay an annual bonus of 1% of the basic sum assured down from 2.5% in 2002. Endowment customers will get an annual bonus of 1% of the sum assured down from 2%. The group has also reduced final bonuses.