Stan Life cuts 10% off stakeholder with-profits payouts

The firm made the change on 11 December and claims it will help protect existing policyholders and their investments. Due to severe falls in equity markets, Standard Life says with-profits smoothing was reduced to maintain fairness between policyholders who leave and those who stay in the fund. Stakeholder with-profits is different from other with-profits funds, Standard Life says, with no annual or terminal bonuses. "The investment performance of the Stakeholder with profits fund directly affects the value of units and so this can go down as well as up on a day to day basis," a spoke...