Abbey has sold its life business to Resolution for £3.6bn.
Abbey is considering the sale of around £1bn worth of commercial property from two of its with-profits funds.
With-profits policyholders of the Abbey group will not receive any annual bonuses this year but the market value reduction has been cut in all cases, following improved performance of the funds over the last 12 months.
SCOTTISH MUTUAL has slashed terminal bonuses on with-profits pensions less than 30 years old to zero, report the Daily Telegraph.