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%, compared to 7% previously.
Margret Flaherty, with-profits communications manager at Standard Life, says: "Plan values depend on investment returns on the assets in the with-profits fund.
"While returns from equity markets have improved they are still some way off recovering from the preceding downturn. Other classes of investment such as fixed interest and property delivered lower returns in 2009 than equities."
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