NU raises allocation rates and exit penalties by 1%

Norwich Union is increasing allocation rates by 1% across all ages, premium sizes and funds in its P...

Norwich Union is increasing allocation rates by 1% across all ages, premium sizes and funds in its Portfolio investment bond and it is matching this with a 1% rise in exit penalties. Allocation rates determine the percentage of a single premium invested at the outset of the investment. For example, the new allocation rate for an investor aged 74 or under with a £50,000 premium is 103%. This gives the investor £51,500 in the policy if they use a step-down charging structure, which weights charges towards the early years of the bond. The special offer was introduced on 31 August, but Nor...