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Scottish Friendly Assurance cuts bonus rates

Scottish Friendly Assurance is reducing bonus rates on its with-profits plans, blaming low inflation and low interest rates.

The reversionary bonus for 2001 is down 0.75 per cent to 1.75 per cent of the sum assured plus 4.25 per cent of previously undeclared bonuses, from 2.5 per cent plus 5 per cent in 2000.

The reversionary bonus for tax exempt returns is also down 0.75 per cent to 2.25 per cent of the sum assured plus 4.75 per cent of previously undeclared bonuses, from 3 per cent plus 4.75 per cent in 2000.

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