Clerical Medical to lower with-profits bonus rates

Clerical Medical is to lower the annual bonus rates on most of its with-profits bonds by 1%, but is ...

Clerical Medical is to lower the annual bonus rates on most of its with-profits bonds by 1%, but is re-introducing terminal bonuses on new with-profits bonds. The life office is to keep its bonus rates for with-profits Income funds unchanged at 4.5%, but regular bonuses on most of its with-profits bonds will drop to 1.5% from 2.5% and to 2% for pension policies from 3%. Some final bonuses for the group's existing investors have also been reduced, the actual amount depending on the duration, amount and type of policy. For example, a typical five-year £10,000 with-profits bond payout on...