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Friends Provident with profits payouts fall

Regular bonus rates on Friends Provident’s life and pensions with-profits remain broadly unchanged after the life offices’ with-profits fund delivered its first double digit return in five years.
Despite the group paying out 250m in this round of bonuses, payouts on Friends Provident life and pensions with profits policies have on average dipped by 4 per cent compared with payouts on the same policies maturing after the group’s previous bonus announcement on 20 August last year. Regular bonuses on its conventional individual life and personal pension policies have been held at 0.25 per cent as have rates on the same policies in its closed fund.
The with profits fund returned 10.7 per cent in 2004.

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