Standard Life cuts client returns by thousands of euro

SOME 100,000 Irish clients of Standard Life, including pensioners, endowment and SSIA funds holders, are to see returns cut by thousands of euro.

Plummeting share values on world stock markets have forced Standard Life to slash bonus payments by 15%.

This is the third time Standard Life, Europe's largest mutually-owned life insurer, has cut bonus payments in just over a year.