Friends Provident announce Bonus and MVR changes
Friends Provident announced on 8 January 2009 that the annual bonus declaration for 2009 reduced from 1.9% to 1.75%. Final bonuses have also been reduced and may now be zero.
In addition, the Market Value Reduction for early disinvestment, other than at normal retirement age or death, has had the upper limit increased from 14% to 15%. The lower limit remains at 0%. The precise amount of the MVR depends on whether it was a single or regular investment and the date of the investment(s).
Friends Provident has advised that these changes are due to the latest market conditions.
Posted 9/1/09, archived 6/3/09
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Last Updated: 15/06/2009
