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Eagle Star cuts annual bonuses

Eagle Star is scrapping the reversionary bonuses on its conventional with-profits pension policies this year, Zurich has announced.
But the company will pay a reversionary bonuses of 0.25 per cent for conventional with-profits life policies. Eagle Star&#39s new annual bonus rate for its series 5 unitised with-profits fund is 1 per cent for life policies and 2 per cent for pension policies while the company&#39s other policies vary between 0 per cent and 4 per cent.
All life policies and some pension policies maturing this year will receive a terminal bonus.
Zurich&#39s distribution communications director Tony Solomon says: “Over the last year we have invested a higher proportion of the with-profits fund into fixed interest securities. This will make sure we are able to pay the benefits, including bonuses, that we have already guaranteed.”

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