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Scottish Mutual declares £350m bonuses

Scottish Mutual life and pensions policyholders are set to receive more than £350m following the declaration of its bonuses.


Life customers will benefit from bonus rates of six per cent while pensions policyholder rates will be 6.75 per cent.


The life office says this compares well with competitors which are offering rates below six per cent.


Scottish Mutual chief executive Graham Pottinger says: “Our investment strategy allows exposure to the equity market and that inevitably feeds through to the bonuses added to contracts.”

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