Pru to protect bonus payouts on with-profits

Prudential is to protect bonus payouts on new with-profits business from suffering the effects of previous poor investment conditions. Total bonuses on all accumulating with profits products purchased since the spring of 2002 will benefit from bonuses based solely on the performance of the fund since that date. The announcement aims to remove the concern of Prudential customers that investors going in to with-profits today will suffer reduced bonuses as fund financial strength is rebuilt following a period of low market returns and overpayment of bonuses. The Prudential said that ...