Pru with-profits bonuses rise to £2.7bn

The rise means pensioners receiving a Prudential with-profits annuity income in retirement will receive a 11% rise in income, compared to a 3.1% inflation rate and 3.9% state pension increase. The provider has increased most annual bonus rates by about 0.25% following a 91% return from the Prudential Life fund over five years and a 134% return over 10 years. Last year the fund delivered a 7.2% return. Gary Shaughnessy, managing director of retail life and pensions at Prudential, Shaughnessy says: “Successful risk management and asset allocation by the Prudential Portfolio Management Grou...