Scottish Widows has become the latest life group to cut the projection rates on its with-profits fun...
Scottish Widows has become the latest life group to cut the projection rates on its with-profits fund range. The move came as The Annuity Bureau labelled the FSA's mandated rates as misleading and unrealistic, and marks the second phase of the group's ABI mortgage endowment reprojections. The Bureau said present earning estimates of 5%, 7% and 9% need to be revised in line with market conditions, as the present projections are misleading policyholders into believing that they will earn more from their investment than they actually will. Under FSA regulations, life offices must inform ...
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