Pru cuts with-profits bonus

However, Prudential insists its with-profits funds are still well placed to protect policyholders from the full effects of the coming recession. The reduction in final bonuses will reduce the typical policy value by between 5% and 10%. Annual bonus rates will be unaffected. "Today's change reflects the consistent way in which we have managed the Fund to ensure a fair approach to the setting of bonus rates," says Prudential's chief actuary, David Belsham. "In an environment where markets have fallen significantly, our policyholders have benefited from the downside protection provided ...