Pension investors in Norwich Union's With-Profits range will benefit from a hike in bonus rates, which was announced yesterday.
New
pension policyholders will get a bonus rate of 4.5 per cent, while a bonus rate of four per cent applies to investors in stakeholder pensions.
"These changes are good news for investors in our With-Profits fund and underline the benefits of investing in a fund with a high equity backing ratio," chief actuary John Lister commented.
He added that the new bonus rates demonstrate Norwich Union's "ongoing commitment" to the marketing of With-Profit products.
New bonus rates apply to new unitised policies. The bonus rate for investors in Norwich Union bonds remain unchanged.
Norwich Union is an Aviva company. Aviva is the world's fifth-largest
insurance group and the biggest in the UK.
It is one of the leading providers of life and pensions products in Europe and has substantial businesses elsewhere around the world.
The main activities of Norwich Union are long-term
savings, fund management and general insurance, including
car insurance,
motorcycle insurance and van insurance.