Partial recovery allows Scottish Widows to cut MVR

A statement issued yesterday by >Scottish Widows suggest final bonuses, effect January 1, 2005, on the Flexible Options Bond will be 5% on the Flexible Options growth bond while the income version will pay 3.5-4.5% on the back of yields ranging between 5.75% and 10.75% per annum. Elsewhere, the market value reduction (MVR) rate applied to policies being withdrawn from the with-profits fund has now fallen to an average MVR of 5% on unitised with-profits pension policies and unitised with-profits assurance policies – compared with an average of 10% at the end of 2003 - thanks to a partial ...