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Consumer  >  Investment for Consumers  >  With Profits  >  The Scottish Life Fund Bonus Report for 2007

The Scottish Life Fund Bonus Report for 2007

Every year, we issue the Scottish Life bonus report to our customers who own certain conventional with profits policies in this fund. The report includes a bonus statement for each policy, an annual update (PDF) and a list of frequently asked questions.

The statements aim to provide information about the performance of your policy over the last 12 months.

The bonus rate declared for 2007 is based on the assets and liabilities in The Scottish Life Fund as at 31 December 2007. We’ve made no major changes since last year to the way we manage The Scottish Life Fund.

Key points

• The Scottish Life Fund returned 2.7% before tax during 2007.
• Regular bonus rates unchanged.
• Demutualisation enhancement for historic investment returns unchanged at 0.75% pa.
• Demutualisation enhancement for future investment returns reduced by 0.25% to 0.5% pa with effect from 1 January 2008.

What are the relevant policy types?

• Bonus House Purchase Plan
• Budget Plan
• Capital Plan
• Capital Plan Deluxe
• Deferred Annuity
• Endowment Assurance
• Endowment Pension With Profits
• Reinforced Endowment Assurance
• Individual Pensions Arrangement – Pension
• Individual Pensions Arrangement – Term Assurance
• Low Cost Mortgage Plan
• Economic Low Cost Mortgage Plan
• Whole of Life Assurance (Limited Prems)
• Whole of Life Assurance (With Profit)
• Pure Endowment
• Personal Pension Deferred Annuity
• Personal Pension Bonus Bond
• Personal Pension Plan
• Personal Pension Policy
• Versatile Retirement Benefit Plan

Improvements to our communications

As part of our ongoing improvements to customer service, we’ve changed the way we present the statements to make them clearer and easier to understand. These changes are in line with our commitment to the Financial Services Authority (FSA) - Treating Customers Fairly principle.

Guides on the management of The Scottish Life Fund

• How we manage The Scottish Life Fund 
  Information about how we manage The Scottish Life Fund.
• Principles and Practices of Financial Management 
  A detailed technical document (PDF) that explains how we manage the With Profits fund including how our with profits policies work and what benefits you can expect from them.
  
  Principles and Practices of Financial Management
  All companies who offer with profits investments are required to publish a document detailing the way in which they manage the with profits fund. You can find more information on Principles and Practices of Financial Management (PPFM) as well as Royal London's PPFMs by visiting Royal London PPFM. If you have any questions about our PPFMs, please e-mail: PPFM queries.
  
• Notification of Changes (December 2007) 
  A guide (PDF) to the changes we made to the Principles and Practices of Financial Management (PPFM) in 2007.
  
• Report to With Profits policyholders on our compliance with the PPFM 
  A report (PDF) to With Profits policyholders on our compliance with the PPFM.
  
• A guide to how we manage our with profits fund 
  A plain English guide (PDF) on how we manage our with profits fund to the key points of the PPFM. You should have received a copy of this guide from us in 2006.

Contact us

If you would like further information about your policy or your bonus amount please contact us on 0845 602 1884 between 9am and 5pm Monday to Friday. We are committed to delivering excellent customer service and so we may record and monitor telephone calls for training and quality control purposes.