FRIENDS Provident has become the latest life insurer to announce lower rates for long-term savers.
The group said it was cutting the final payouts on with-profits life and pension policies by an average of 6% - and warned of further reductions ahead.
It said most regular bonus rates had been reduced - in some cases by up to 50% - and some final bonus payments were also cut.
It is the third time in 12 months that Friends provident has cut its rates.
