Friends Prov cuts bonuses as with-profits fund drops 10%

The changes mean some final bonuses will be reduced by as much as 22.5%, while other policyholders may see reductions in their regular bonuses. The bulk of reductions are on final bonuses, with steep reductions on most terminal bonus-paying policies. Policyholders of the UKP Series with a 25-year individual life plan see the biggest rate reduction, with final bonuses cut from 35% to 12.5%. Regular bonuses for the plan remain unchanged. Final bonuses will be removed completely for holders of FPLP Main Series 15-year unitised personal plans, having previously stood at 2.8%. Meanwhile...