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Standard Life cuts bonuses

Standard Life has again cut its bonuses, reducing payouts by an average of 6 per cent.

This means a £50 a month 25-year with-profits endowment policy, is now worth £69,386 down from £75, 984. This represents an annual return of 10.7 per cent on total premiums of £15,000. There is to be no change to annual bonus rates.

The Edinburgh-based insurer also announced that the surrender value reductions on conventional life policies has dropped to 8 per cent from 15 per cent, and on pensions to 16 per cent from 25 per cent.


Over 1,000 advisers sit CII test on investment

The CII says it has had an overwhelming response to its latest exam, with over 1,000 advisers sitting its first Savings & Investment module exam on July 15.It had hoped to attract 1,000 advisers throughout the first year and is pleased by the overwhelming interest shown, which it attributes to IFAs recognising that they need […]

Product matters

Skandia is one of the last offices to unveil a full range of single-charged pension plans.Skandia always tries to be innovative and has taken on board some of the FSA&#39s comments by breaking down the fees into three components – its admin charge, a fund management charge and an advice fee.Like many offices, Skandia is […]

Jo Dawson

As depolarisation approaches and the IFA market begins to reshape itself, many are questioning the role high-street banks will play in a new environment where, arguably, multi-tied agents might become the norm.The woman behind adviser strategy at the Halifax has been watching this carefully over the past few years and believes her organisation has got […]

Standard abandoning break-even ages for contracting back in

Standard Life is scrapping break-even ages as the criteria for deciding whether IFA clients should be advised to contract back in to the state second pension.The life office says it is adopting critical yields instead. It believes giving a critical yield that investments must achieve to make contracting out worthwhile is a more accurate way […]


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