Abbey maintains MVR policy

Abbey has successfully cut MVRs on its with-profits funds meaning no annual bonus for 2004

Abbey has maintained its policy of cutting market value reductions (MVRs) on its with-profits funds and strengthening terminal bonuses, meaning no annual bonus for 2004. The only policies offering annual bonuses are those on which such payments are guaranteed, primarily the Scottish Mutual and Scottish Provident with-profits pension plans. These carry pledges that the annual payment will not fall below 3%-4%. The announcement concerns with-profits policies from Abbey itself, Scottish Mutual and Scottish Provident, all of which are closed to new business. Abbey began its policy to focus ...