Stan Life cuts with-profits surrender values

The firm blamed continued poor investment market performance in early 2009 for the cuts, with most policyholders seeing their values reduced by between 5% and 8%. Some with-profits plans, such as stakeholder pensions, homeplan endowments and with-profits bonds, have their surrender and transfer values automatically adjusted on a daily basis to reflect investment performance. Today's changes bring other plans, with less frequent changes, into line with Standard Life's other with-profits policies. Margaret Flaherty, with-profits communications manager at Standard Life, says: "These chan...