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Friends adds to bonuses as with-profits fund rises 13%

Friends Provident has increased the guaranteed bonus rate on its with-profits fund from 1.75 per cent to 2 per cent after it returned 13 per cent last year.
In addition, the Axa Sun Life and Sun Life with-profits funds returned 13 per cent and 11 per cent respectively.

The guaranteed bonus rate for the Axa Sun Life main unitised with-profits fund remains unchanged at 3 per cent. There is no guaranteed bonus rate on the Sun Life with-profits fund.

Friends Provident chief actuary Andy Carr says: “2010 saw further improvements in investment market conditions, with positive returns from all major asset classes resulting in increased payouts for the majority of with-profits policyholders.

“It has been possible to increase regular bonus rates across a number of Friends Provident products, particularly pensions, leading to a modest increase in the rate at which guarantees build up.”

Intelligent Pensions IFA David Trenner says: “It is difficult to see why anyone with a decent amount of money would want to invest in a with-profits fund.
“If markets fall, you do not have any protection and when the markets go up, with-profits underperform.”


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Sierra Leone cover image - thumbnail

White paper — Sierra Leone International Insights

Jelf Employee Benefits assesses the areas that employers should be aware of when considering operating in Sierra Leone, including healthcare access, delivery and insurance provisions. This report draws on various sources to highlight specific considerations for this emerging jewel in West Africa.


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