Standard Life cuts with-profits MVRs

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Standard Life has maintained bonus rates and cut market value reductions (MVRs) for more than a million with-profits investors.

The firm says most customers will see a year-on-year increase in the value of their fund, due to improvements in equity markets during 2009. With-profits bond regular bonuses have remained at 2.5%, while unitised products without a price growth guarantee will remain at 1.5% for life plans, and 2% for pensions. Reversionary bonus rates for with-profits plans will remain at their current levels for both life and pensions investments. MVRs have been removed or lowered in many cases, Standard Life says, with unitised pensions (0% fund regular payments) MVR now averaging at 4.4%, compar...

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