With-profits bonuses to fall

Standard Life and Clerical Medical have cut regular bonuses on with-profits life and pensions busine...

Standard Life and Clerical Medical have cut regular bonuses on with-profits life and pensions business from 1 February On unitised life and pension policies, Standard Life has cut regular bonuses by up to 0.75%, with the largest reductions on the pension side. As for conventional business, regular bonuses have also fallen by as much as 0.5%. In terms of payouts, a sample 25-year with-profits endowment, based on a male aged 30 next birthday contributing £50 a month, is now £51,220 compared with £56,873 last year. The group said this annualised return of 8.7%, down from 9.5%, still compare...