Standard Life forced to cut final bonus rates

Standard Life has announced an immediate cut in final bonuses across its with-profits range based on...

Standard Life has announced an immediate cut in final bonuses across its with-profits range based on market conditions. Market Value Reductions (MVRs), which already apply in some cases, will increase and extend to more with-profits plans. Margaret Flaherty, with-profits communications manager said investment returns have generally been poor over the last year, but particularly so since August. “As a result of the bonus cut, most with-profits customers will see a fall in the value of their plan,” she added. “Despite today’s changes, with-profits plans are still providing some protec...