Standard Life with-profits payouts mirror bonus cuts

maturity rates fall by average of 8% following cut of final bonuses

Maturity payouts from Standard Life's with-profits policies have fallen by an average of 8% from earlier this year, following further cuts to final bonuses. The mutual said the reduced rates reflect actual long-term investment returns more accurately against challenging investment conditions. It added that there has been no change to annual bonus rates and with-profits bonds, while homeplan and stakeholder products are unaffected. As an example of falling payouts, the maturity value on a 25-year Standard Life endowment for a premium of £50 a month was £56,873 on 29 July compared to £62,6...