Pru with-profits policies carry MVR set on "case by case basis"

Prudential has announced terminal bonuses on with-profits pension policies of 12% less than last year and 10% less on all other products, as smoothed investment returns still saw a loss of 8.1% over the year. However additional statistics also suggest the Scottish Amicable endowment mortgage and personal pensions may also be hit by an undisclosed MVR, cutting Pru's potential pensions payouts by around 20%. While policies are being cut by the declared amount, there could also be an unspecified Market Value Reduction imposed on each policy, cutting the payouts further anywhere betwe...