NU pension returns slump

Policyholders with a Norwich Union with-profits pension and endowment products will see the value of their investments fall by about 15% from the same time last year, after the company made its bonus declaration. A standard £25 per month, 25-year policy from Commercial Union would have been worth £102,306 if surrendered on 1 January, 2001 compared with £86,994 if surrendered now. An equivalent policy from Norwich Union would have fallen from £86,028 to £73,640, or 14.4%. The regular bonus rate for unitised with-profits pensions policies will be 5.25%, compared with 6.25% announced i...