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Widows cuts with-profits bonuses

Scottish Widows is cutting bonuses on its flexible investment bonds, Jersey with-profits bonds and investments in the flexible options bond income fund made in 2002 by 0.5 per cent.

The regular bonus rate for investments in the flexible options bond income fund made in the first half of 2003 is reduced by 0.25 per cent.

Scottish Widows actuarial director Adrian Eastwood says: “Stockmarkets still have a long way to rise to match their peak values.”

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