Standard Life reduces bonus on with-profits

Standard Life has lowered its with-profits bonus payments on maturity and retirement by an average of 6% to reflect reduced investment returns in a low inflation and falling interest rate environment. Following a review of bonus rates and payouts, the mutual has left annual bonus rates unchanged on conventional with-profits products and annualised growth rates on unitised with-profits policies In light of these adjustments, Standard Life has lowered the surrender value reduction (SVR) that applies when investors withdraw from the with-profits fund through a switch, surrender or transf...