Scot Wid cuts regular rates on with-profits

Scottish Widows is the latest life office to cut bonus rates for this year, reducing regular rates o...

Scottish Widows is the latest life office to cut bonus rates for this year, reducing regular rates on unitised life and pension with-profits policies by up to 1%. While regular bonus rates on conventional with-profits policies have remained unchanged, no regular bonuses are being added to the majority of conventional pension policies. Final bonus rates on with-profits have also fallen, dropping from 3% to 2% on life policies bought after 1993, for example. On with-profits pension policies, final bonuses have fallen from 5% to 1% for regular premium policies and from 4% to 1% on single pre...