With Profits

Strong results are 20 years in the making

Phoenix Life is reviewing the pricing of the majority of its pension funds after a rounding anomaly in some of its life products was pointed out by a retired IFA.

Phoenix Life is reviewing the charges on its Scottish Provident unit-linked funds after refunding a former financial adviser who realised he had been overcharged for years.

... that clients may call you about this week

Prudential has reported a 25% fall in the sale of its with-profits bonds, which it attributes to a fall in the number of bank advisers who were major distributors of the product.

The LV= with-profits fund achieved an investment return of 9.9% in 2012 while bonus rates for policyholders have been held or cut, the firm has confirmed.

Standard Life has lowered 600,000 savers' with-profits bonus rates for 2013 as its Heritage fund saw an overall return just shy of 8%.