We’re pleased to announce that Aviva is making further reductions to Market Value Reduction (MVR) rates from 19 October 2009.
Aviva, formally Norwich Union has reduced its exit penalties on with profits policies bought between 1988 and last year on the back of stock market improvements in the last six months.
The reductions range from 0% to3% with the average being slightly over 1.5%.
The average MVR rates applying to policies are:
|
Year units bought |
Average MVR rate as at 1/7/09 |
Average MVR rate as at 19/10/09 b |
|
1988 |
5% |
2% |
|
1989 |
14% |
12% |
|
1990 |
6% |
4% |
|
1991 |
0% |
0% |
|
1992 |
1% |
1% |
|
1993 |
1% |
1% |
|
1994 |
2% |
1% |
|
1995 |
1% |
1% |
|
1996 |
3% |
2% |
|
1997 |
8% |
5% |
|
1998 |
15% |
12% |
|
1999 |
16% |
14% |
|
2000 |
20% |
18% |
|
2001 |
11% |
10% |
|
2002 |
2% |
1% |
|
2003 |
1% |
0% |
|
2004 |
2% |
1% |
|
2005 |
9% |
6% |
|
2006 |
16% |
13% |
|
2007 |
18% |
16% |
|
2008 |
9% |
8% |
To find out if this affects you favourably please contact your financial adviser.
