Skip to content

Bonus rates

You'll find details of our bonus rates across each product type, including business acquired by Scottish Friendly, below.

Bonus Recommendations - Scottish Friendly Assurance Main Fund

The following regular bonus declarations were recommended by the Board of Scottish Friendly Assurance Society in December 2016.

Conventional Ordinary Branch Business

There has been no recommended change to the current rates of regular bonus. The rates detailed below.

Table Bonus rate

Tables W1, W2, E1, E2, N3, N4, N6, N7 & V1

A regular bonus of 0.80% on the sum assured and the previously declared bonus

Tables A3, A7, P1, P4 & P6 (Deferred Annuities and Personal Pensions)

A regular bonus of 0.80% on the sum assured and the previously declared bonus

Old City of Glasgow Tables (pre 1975)

A regular bonus of 0.80% on the sum assured and the previously declared bonus

Policies issued by other societies including Old Scottish Friendly (pre transfer to City of Glasgow)

A regular bonus of 0.80% on the sum assured and the previously declared bonus

Tables 15, 17 & 25

A regular bonus of 0.80% on the sum assured and the previously declared bonus

Tables G1 & B1 (Tax Exempt)

A regular bonus of 1.00% of the sum assured and the previously declared bonus

Resolution Bond

A regular bonus of 0.50% of the sum assured and the previously declared bonus

For Old Scottish Friendly (pre transfer to the City of Glasgow) business, tables 5, 8, 9 & 10

A regular bonus of 1.00% of the sum assured

Where applicable, until further notice, the interim rate of regular bonus to be applied to claims will be equal to the rate declared for 2016.

Unitised Ordinary Branch Business

For unitised with profit business regular bonus is reflected within the unit prices and as such needs to be declared in advance of unit purchases. These rates are subject to review at any time and rates that apply from any future date may therefore be subject to amendment. It is recommended that there is no change to the current rates of regular bonus. The rates detailed below.

Product Bonus rate

Taxable - Growth & Security Bond and MoneyBuilder

A rate of 2.50% per annum should be reflected as the annual rate of increase in the unit price of the fund

Taxable - Mutual Investment Bond

A rate of 2.50% per annum should be reflected as the annual rate of increase in the unit price of the fund

Tax-Exempt - Bonus Bonds, Personal Pension and ISA

A rate of 3.00% per annum should be reflected as the annual rate of increase in the unit price of the fund

Policies issued by other societies including Old Scottish Friendly (pre transfer to City of Glasgow)

A regular bonus of 0.80% on the sum assured and the previously declared bonus

Tax-Exempt – My Plan ISA

A rate of 1.00% per annum should be reflected as the annual rate of increase in the unit price of the fund

Pioneer Business

The current regular bonus rates apply to the basic sum assured at the rate of 2.0% for tax-exempt business and 1.0% for taxable business.

Royal Standard Business

A regular bonus of 1.5% applies to the sum assured and previously declared bonuses.

Conventional Industrial Branch Business

Product Bonus rate

Whole Life, Endowment and Pension Policies

A regular bonus of 1.00% of sum assured

Endowment Assurance with Deferred Life Assurance

A regular bonus of 0.50% of sum assured

Recurring Endowment 5 years

Maintain the current rate of 5.00% of each recurring endowment payment

Recurring Endowment 10 years

Maintain the current rate of 10.00% of each recurring endowment payment.

Bonus Recommendations - Scottish Legal Life Fund

The following regular bonus declarations were recommended by the Board of Scottish Friendly Assurance Society in December 2016.

Conventional Ordinary Branch Business

The same rates of bonus will apply in respect of both the UK and the RoI business. It is recommended that for all products the current rates are maintained.

Table Regular bonus rate

9, 10d & 11

1.75% p.a. compound

11b

Nil

18

1.25% p.a. compound

61 & 61b

Nil

80, 81, 82, 84, 84a, 86, 88 & 88a

Nil

83, 85, 85a, 87, 89 & 89a

Nil

201, 202, 203, 211, 212, 221, 222 and 231

0.50% p.a. compound

281 & 282

0.50% p.a. compound

Where applicable, until further notice, the interim rate of regular bonus to be applied to claims will be equal to the rate declared for 2016.

Unitised Ordinary Branch Business

For unitised with profit business regular bonus is reflected within the unit prices and as such needs to be declared in advance of unit purchases. These rates are subject to review at any time and rates that apply from any future date may therefore be subject to amendment. It is recommended that the current rates of regular bonus be maintained at the rates detailed below.

Product Regular bonus rate

UK Taxable

A rate of 2.50% per annum

UK Tax-Exempt

A rate of 3.00% per annum

RoI

A rate of 3.00% per annum

These rates will be reflected as the annual rate of increase in the unit price of the fund.

Conventional Industrial Branch Business

The same rates of bonus will apply in respect of both the UK and the RoI business. It is recommended that for 2016 the current declared rates of regular bonuses for the whole of life policies (tables 1, 2, 3 etc.) and endowments are maintained at 0.25% per annum. It is recommended that the rates for the new series policies (tables 101,111 etc.) are maintained at 0.75% p.a. for 2016. The recommended rates are detailed below.

Table Regular bonus rate

1, 2, 3, 6, 21, 23 & 27 and Loyal Hearts 2, 3 & 7

0.25% p.a. simple

4 & 22 and Loyal Hearts 4, 6 & 8

0.25% p.a. simple

12 (a)

Nil

16 (a)

0.25% p.a. simple

101, 111, 121 & 131

0.75% p.a. simple

Where applicable, until further notice, the interim rate of regular bonus to be applied to claims will be equal to the rate declared for 2016.

Bonus Recommendations - Rational Shelley Fund and LANMAS Fund

Rational Shelley

It is recommended that there are no changes to the rate of regular bonus for this business. The recommended scales are detailed below.

Product Bonus rate

Industrial Branch

Maintain the current rate of 2.00% p.a. of the sum assured

Ordinary Branch

Maintain the current rate of 3.00% p.a. of the sum assured

Where applicable, until further notice, the interim rate of regular bonus to be applied to claims will be equal to the rate declared for 2016.

LANMAS

For LANMAS the guaranteed rates of 3% and 0% will be applied to the unit price for policies commencing before and after July 1998 respectively. There is currently no other form of annual bonus.

MGM

Regular Bonus

Coventional business

There has been no recommended change to the current rates of regular bonus. The rates detailed below.

  Annual bonus rate in respect of period from 1 April 2016 to 31 March 2017 Interim bonus rate (1 April 2017 to 31 March 2018)
Conventional Life

0.5%

0.5%

Pensions DFR/ AVC

0%

0%

Pensions SEPRs

0%

0%

Unitised with Profits regular bonus rates from 1 February 2017.

Fund Annual Bonus rate

UWP UK Life

0.75%

UWP UK Pensions

1.00%

UWP International

0.25%

MPPO

0.75%

FIA Bonus rates

  Rate per annum

Lifetime bonus rate

0.25%

Member bonus rate

0.25%