Current and historic declared bonus rates for Unitised With Profits - Talisman, Individual and Retirement Solutions, Crest Growth Plan, Money Purchase and Defined Benefit.
The directors declared regular bonuses for 2023 and terminal bonus for claims in 2024 in respect of these unitised with profits contracts. The bonus rates are shown in the table below:
| Regular bonus rate on basic units | Regular bonus rate on declared bonus units | Terminal bonus rate | |
| With Profits 1 | 2.65% | 2.65% | from 0 to 261% |
| With Profits 2 | 2.65% | 2.65% | from 0 to 100% |
| With Profits 3 | 2.65% | 2.65% | from 0 to 160% |
Interim bonuses are payable at the regular bonus rates for 2023.
Terminal bonus is calculated as a percentage of the with profits unit account in respect of each policy year's premium payments and depending on the number of years of participation completed.
These rates apply to policies becoming claims by maturity and death with effect from 1 January 2024.
From 1 January 2023 the bonus rate is 3.15% p.a. for business sold or benefits switched to with profits before 1 July 2001 and 3.15% for business sold or benefits switched to with profits after 30 June 2001.
In addition to the bonus rates above, a terminal bonus may be payable to money purchase schemes. The terminal bonus is calculated as a percentage of the amount of the with profits unit account in respect of each year's premium payments, the percentage depending upon the number of years of participation completed.
The maximum terminal bonus rate for business sold or benefits switched to with-profits before 12 September 2000 is 284% and, for business sold or switched to with profits before 30 June 2001, 81%. Business sold or benefits switched after 30 June 2001 has a maximum terminal bonus of 147%.
These rates apply to policies becoming claims by maturity and death with effect from 1 January 2024.
For defined benefit schemes no special bonus has been declared for 2023. Special bonuses in lieu of terminal bonus may be declared in the future but their size and timing will depend, amongst other things, on future investment conditions.
The directors declared regular bonuses for 2022 and terminal bonus for claims in 2023 in respect of these unitised with profits contracts. The bonus rates are shown in the table below:
| Regular bonus rate on basic units | Regular bonus rate on declared bonus units | Terminal bonus rate | |
| With Profits 1 | 2.15% | 2.15% | from 0 to 251% |
| With Profits 2 | 2.15% | 2.15% | from 0 to 94% |
| With Profits 3 | 2.15% | 2.15% | from 0 to 153% |
Interim bonuses are payable at the regular bonus rates for 2022.
Terminal bonus is calculated as a percentage of the with profits unit account in respect of each policy year's premium payments and depending on the number of years of participation completed.
These rates apply to policies becoming claims by maturity and death with effect from 1 January 2023.
From 1 January 2021 the bonus rate is 2.65% p.a. for business sold or benefits switched to with profits before 1 July 2001 and 2.65% for business sold or benefits switched to with profits after 30 June 2001.
In addition to the bonus rates above, a terminal bonus may be payable to money purchase schemes. The terminal bonus is calculated as a percentage of the amount of the with profits unit account in respect of each year's premium payments, the percentage depending upon the number of years of participation completed.
The maximum terminal bonus rate for business sold or benefits switched to with-profits before 12 September 2000 is 284% and, for business sold or switched to with profits before 30 June 2001, 81%. Business sold or benefits switched after 30 June 2001 has a maximum terminal bonus of 147%.
These rates apply to policies becoming claims by maturity and death with effect from 1 January 2023.
For defined benefit schemes no special bonus has been declared for 2022. Special bonuses in lieu of terminal bonus may be declared in the future but their size and timing will depend, amongst other things, on future investment conditions.
The directors declared regular bonuses for 2021 and terminal bonus for claims in 2022 in respect of these unitised with profits contracts. The bonus rates are shown in the table below:
| Regular bonus rate on basic units | Regular bonus rate on declared bonus units | Terminal bonus rate | |
|---|---|---|---|
| With Profits 1 | 2.0% | 2.0% | from 0 to 245% |
| With Profits 2 | 2.0% | 2.0% | from 0 to 92% |
| With Profits 3 | 2.15% | 2.15% | from 0 to 147% |
Interim bonuses are payable at the regular bonus rates for 2021.
Terminal bonus is calculated as a percentage of the with profits unit account in respect of each policy year's premium payments and depending on the number of years of participation completed.
These rates apply to policies becoming claims by maturity and death with effect from 1 January 2022.
From 1 January 2021 the bonus rate is 2.5% p.a. for business sold or benefits switched to with profits before 1 July 2001 and 2.65% for business sold or benefits switched to with profits after 30 June 2001
In addition to the bonus rates above, a terminal bonus may be payable to money purchase schemes. The terminal bonus is calculated as a percentage of the amount of the with profits unit account in respect of each year's premium payments, the percentage depending upon the number of years of participation completed.
The maximum terminal bonus rate for business sold or benefits switched to with-profits before 12 September 2000 is 287% and, for business sold or switched to with profits before 30 June 2001, 83%. Business sold or benefits switched after 30 June 2001 has a maximum terminal bonus of 147%.
These rates apply to policies becoming claims by maturity and death with effect from 1 January 2022.
For defined benefit schemes a special bonus of 29.9% has been declared for 2021. Special bonuses in lieu of terminal bonus may be declared in the future but their size and timing will depend, amongst other things, on future investment conditions.
The directors declared regular bonuses for 2020 and terminal bonus for claims in 2021 in respect of these unitised with profits contracts. The bonus rates are shown in the table below:
| Regular bonus rate on basic units | Regular bonus rate on declared bonus units | Terminal bonus rate | |
|---|---|---|---|
| With Profits 1 | 2.0% | 2.0% | from 0 to 179% |
| With Profits 2 | 2.0% | 2.0% | from 0 to 82% |
| With Profits 3 | 2.15% | 2.15% | from 0 to 129% |
Interim bonuses are payable at the regular bonus rates for 2020.
Terminal bonus is calculated as a percentage of the with profits unit account in respect of each policy year's premium payments and depending on the number of years of participation completed.
These rates apply to policies becoming claims by maturity and death with effect from 1 January 2021.
From 1 January 2020 the bonus rate is 2.5% p.a. for business sold or benefits switched to with profits before 1 July 2001 and 2.65% for business sold or benefits switched to with profits after 30 June 2001
In addition to the bonus rates above, a terminal bonus may be payable to money purchase schemes. The terminal bonus is calculated as a percentage of the amount of the with profits unit account in respect of each year's premium payments, the percentage depending upon the number of years of participation completed.
The maximum terminal bonus rate for business sold or benefits switched to with-profits before 12 September 2000 is 216% and, for business sold or switched to with profits before 30 June 2001, 76%.
Business sold or benefits switched after 30 June 2001 has a maximum terminal bonus of 131%. These rates apply to policies becoming claims by maturity and death with effect from 1 January 2021.
For defined benefit schemes a special bonus of 10% has been declared for 2020. Special bonuses in lieu of terminal bonus may be declared in the future but their size and timing will depend, amongst other things, on future investment conditions.
The directors declared regular bonuses for 2019 and terminal bonus for claims in 2020 in respect of these unitised with profits contracts. The bonus rates are shown in the table below:
| Regular bonus rate on basic units | Regular bonus rate on declared bonus units | Terminal bonus rate | |
|---|---|---|---|
| With Profits 1 | 2.0% | 2.0% | from 0 to 173% |
| With Profits 2 | 2.0% | 2.0% | from 0 to 81% |
| With Profits 3 | 2.15% | 2.15% | from 0 to 125% |
Interim bonuses are payable at the regular bonus rates for 2019.
Terminal bonus is calculated as a percentage of the with profits unit account in respect of each policy year's premium payments and depending on the number of years of participation completed.
These rates apply to policies becoming claims by maturity and death with effect from 1 January 2020.
From 1 January 2020 the bonus rate is 2.5% p.a. for business sold or benefits switched to with profits before 1 July 2001 and 2.65% for business sold or benefits switched to with profits after 30 June 2001
In addition to the bonus rates above, a terminal bonus may be payable to money purchase schemes. The terminal bonus is calculated as a percentage of the amount of the with profits unit account in respect of each year's premium payments, the percentage depending upon the number of years of participation completed.
The maximum terminal bonus rate for business sold or benefits switched to with-profits before 12 September 2000 is 216% and, for business sold or switched to with profits before 30 June 2001, 78%. Business sold or benefits switched after 30 June 2001 has a maximum terminal bonus of 131%.
These rates apply to policies becoming claims by maturity and death with effect from 1 January 2020.
For defined benefit schemes no special bonuses have been declared for 2019. Special bonuses in lieu of terminal bonus may be declared in the future but their size and timing will depend, amongst other things, on future investment conditions.
The directors declared regular bonuses for 2018 and terminal bonus for claims in 2019 in respect of these unitised with profits contracts. The bonus rates are shown in the table below:
| Regular bonus rate on basic units | Regular bonus rate on declared bonus units | Terminal bonus rate | |
|---|---|---|---|
| With Profits 1 | 2.0% | 2.0% | from 0 to 136% |
| With Profits 2 | 2.0% | 2.0% | from 0 to 71% |
| With Profits 3 | 2.18% | 2.18% | from 0 to 115% |
Interim bonuses are payable at the regular bonus rates for 2018.
Terminal bonus is calculated as a percentage of the with profits unit account in respect of each policy year's premium payments and depending on the number of years of participation completed. These rates apply to policies becoming claims by maturity and death with effect from 1 January 2019.
From 1 January 2019 the bonus rate is 2.0% p.a. for business sold or benefits switched to with profits before 1 July 2001 and 2.18% for business sold or benefits switched to with profits after 30 June 2001.
In addition to the bonus rates above, a terminal bonus may be payable to money purchase schemes. The terminal bonus is calculated as a percentage of the amount of the with profits unit account in respect of each year's premium payments, the percentage depending upon the number of years of participation completed.
The maximum terminal bonus rate for business sold or benefits switched to with-profits before 12 September 2000 is 178% and, for business sold or switched to with profits before 30 June 2001, 72%. Business sold or benefits switched after 30 June 2001 has a maximum terminal bonus of 119%.
These rates apply to policies becoming claims by maturity and death with effect from 1 January 2019.
For defined benefit schemes no special bonuses have been declared for 2018. Special bonuses in lieu of terminal bonus may be declared in the future but their size and timing will depend, amongst other things, on future investment conditions.
The directors declared regular bonuses for 2017 and terminal bonus for claims in 2018 in respect of these unitised with profits contracts. The bonus rates are shown in the table below:
| Regular bonus rate on basic units | Regular bonus rate on declared bonus units | Terminal bonus rate | |
|---|---|---|---|
| With Profits 1 | 2.0% | 2.0% | from 0 to 115% |
| With Profits 2 | 2.0% | 2.0% | from 0 to 61% |
| With Profits 3 | 2.18% | 2.18% | from 0 to 96% |
Interim bonuses are payable at the regular bonus rates for 2017.
Terminal bonus is calculated as a percentage of the with profits unit account in respect of each policy year's premium payments and depending on the number of years of participation completed. These rates apply to policies becoming claims by maturity and death with effect from 1 January 2018.
From 1 January 2018 the bonus rate is 2.0% p.a. for business sold or benefits switched to with profits before 1 July 2001 and 2.18% for business sold or benefits switched to with profits after 30 June 2001.
In addition to the bonus rates above, a terminal bonus may be payable to money purchase schemes. The terminal bonus is calculated as a percentage of the amount of the with profits unit account in respect of each year's premium payments, the percentage depending upon the number of years of participation completed.
The maximum terminal bonus rate for business sold or benefits switched to with-profits before 12 September 2000 is143% and, for business sold or switched to with profits before 30 June 2001,68%. Business sold or benefits switched after 30 June 2001 has a maximum terminal bonus of102%.
These rates apply to policies becoming claims by maturity and death with effect from 1 January 2018.
For defined benefit schemes a special bonus of 5% has been declared for 2017 in lieu of terminal bonus. Further special bonuses in lieu of terminal bonus may be declared in the future but their size and timing will depend, amongst other things, on future investment conditions. The size of the bonus this year should not be taken as an indicator of possible future special bonuses.
The directors declared regular bonuses for 2023 and terminal bonus for claims in 2024 in respect of these unitised with profits contracts. The bonus rates are shown in the table below:
| Regular bonus rate on basic units | Regular bonus rate on declared bonus units | Terminal bonus rate | |
| With Profits 1 | 2.65% | 2.65% | from 0 to 261% |
| With Profits 2 | 2.65% | 2.65% | from 0 to 100% |
| With Profits 3 | 2.65% | 2.65% | from 0 to 160% |
Interim bonuses are payable at the regular bonus rates for 2023.
Terminal bonus is calculated as a percentage of the with profits unit account in respect of each policy year's premium payments and depending on the number of years of participation completed.
These rates apply to policies becoming claims by maturity and death with effect from 1 January 2024.
From 1 January 2023 the bonus rate is 3.15% p.a. for business sold or benefits switched to with profits before 1 July 2001 and 3.15% for business sold or benefits switched to with profits after 30 June 2001.
In addition to the bonus rates above, a terminal bonus may be payable to money purchase schemes. The terminal bonus is calculated as a percentage of the amount of the with profits unit account in respect of each year's premium payments, the percentage depending upon the number of years of participation completed.
The maximum terminal bonus rate for business sold or benefits switched to with-profits before 12 September 2000 is 284% and, for business sold or switched to with profits before 30 June 2001, 81%. Business sold or benefits switched after 30 June 2001 has a maximum terminal bonus of 147%.
These rates apply to policies becoming claims by maturity and death with effect from 1 January 2024.
For defined benefit schemes no special bonus has been declared for 2023. Special bonuses in lieu of terminal bonus may be declared in the future but their size and timing will depend, amongst other things, on future investment conditions.
The directors declared regular bonuses for 2022 and terminal bonus for claims in 2023 in respect of these unitised with profits contracts. The bonus rates are shown in the table below:
| Regular bonus rate on basic units | Regular bonus rate on declared bonus units | Terminal bonus rate | |
| With Profits 1 | 2.15% | 2.15% | from 0 to 251% |
| With Profits 2 | 2.15% | 2.15% | from 0 to 94% |
| With Profits 3 | 2.15% | 2.15% | from 0 to 153% |
Interim bonuses are payable at the regular bonus rates for 2022.
Terminal bonus is calculated as a percentage of the with profits unit account in respect of each policy year's premium payments and depending on the number of years of participation completed.
These rates apply to policies becoming claims by maturity and death with effect from 1 January 2023.
From 1 January 2021 the bonus rate is 2.65% p.a. for business sold or benefits switched to with profits before 1 July 2001 and 2.65% for business sold or benefits switched to with profits after 30 June 2001.
In addition to the bonus rates above, a terminal bonus may be payable to money purchase schemes. The terminal bonus is calculated as a percentage of the amount of the with profits unit account in respect of each year's premium payments, the percentage depending upon the number of years of participation completed.
The maximum terminal bonus rate for business sold or benefits switched to with-profits before 12 September 2000 is 284% and, for business sold or switched to with profits before 30 June 2001, 81%. Business sold or benefits switched after 30 June 2001 has a maximum terminal bonus of 147%.
These rates apply to policies becoming claims by maturity and death with effect from 1 January 2023.
For defined benefit schemes no special bonus has been declared for 2022. Special bonuses in lieu of terminal bonus may be declared in the future but their size and timing will depend, amongst other things, on future investment conditions.
The directors declared regular bonuses for 2021 and terminal bonus for claims in 2022 in respect of these unitised with profits contracts. The bonus rates are shown in the table below:
| Regular bonus rate on basic units | Regular bonus rate on declared bonus units | Terminal bonus rate | |
|---|---|---|---|
| With Profits 1 | 2.0% | 2.0% | from 0 to 245% |
| With Profits 2 | 2.0% | 2.0% | from 0 to 92% |
| With Profits 3 | 2.15% | 2.15% | from 0 to 147% |
Interim bonuses are payable at the regular bonus rates for 2021.
Terminal bonus is calculated as a percentage of the with profits unit account in respect of each policy year's premium payments and depending on the number of years of participation completed.
These rates apply to policies becoming claims by maturity and death with effect from 1 January 2022.
From 1 January 2021 the bonus rate is 2.5% p.a. for business sold or benefits switched to with profits before 1 July 2001 and 2.65% for business sold or benefits switched to with profits after 30 June 2001
In addition to the bonus rates above, a terminal bonus may be payable to money purchase schemes. The terminal bonus is calculated as a percentage of the amount of the with profits unit account in respect of each year's premium payments, the percentage depending upon the number of years of participation completed.
The maximum terminal bonus rate for business sold or benefits switched to with-profits before 12 September 2000 is 287% and, for business sold or switched to with profits before 30 June 2001, 83%. Business sold or benefits switched after 30 June 2001 has a maximum terminal bonus of 147%.
These rates apply to policies becoming claims by maturity and death with effect from 1 January 2022.
For defined benefit schemes a special bonus of 29.9% has been declared for 2021. Special bonuses in lieu of terminal bonus may be declared in the future but their size and timing will depend, amongst other things, on future investment conditions.
The directors declared regular bonuses for 2020 and terminal bonus for claims in 2021 in respect of these unitised with profits contracts. The bonus rates are shown in the table below:
| Regular bonus rate on basic units | Regular bonus rate on declared bonus units | Terminal bonus rate | |
|---|---|---|---|
| With Profits 1 | 2.0% | 2.0% | from 0 to 179% |
| With Profits 2 | 2.0% | 2.0% | from 0 to 82% |
| With Profits 3 | 2.15% | 2.15% | from 0 to 129% |
Interim bonuses are payable at the regular bonus rates for 2020.
Terminal bonus is calculated as a percentage of the with profits unit account in respect of each policy year's premium payments and depending on the number of years of participation completed.
These rates apply to policies becoming claims by maturity and death with effect from 1 January 2021.
From 1 January 2020 the bonus rate is 2.5% p.a. for business sold or benefits switched to with profits before 1 July 2001 and 2.65% for business sold or benefits switched to with profits after 30 June 2001
In addition to the bonus rates above, a terminal bonus may be payable to money purchase schemes. The terminal bonus is calculated as a percentage of the amount of the with profits unit account in respect of each year's premium payments, the percentage depending upon the number of years of participation completed.
The maximum terminal bonus rate for business sold or benefits switched to with-profits before 12 September 2000 is 216% and, for business sold or switched to with profits before 30 June 2001, 76%.
Business sold or benefits switched after 30 June 2001 has a maximum terminal bonus of 131%. These rates apply to policies becoming claims by maturity and death with effect from 1 January 2021.
For defined benefit schemes a special bonus of 10% has been declared for 2020. Special bonuses in lieu of terminal bonus may be declared in the future but their size and timing will depend, amongst other things, on future investment conditions.
The directors declared regular bonuses for 2019 and terminal bonus for claims in 2020 in respect of these unitised with profits contracts. The bonus rates are shown in the table below:
| Regular bonus rate on basic units | Regular bonus rate on declared bonus units | Terminal bonus rate | |
|---|---|---|---|
| With Profits 1 | 2.0% | 2.0% | from 0 to 173% |
| With Profits 2 | 2.0% | 2.0% | from 0 to 81% |
| With Profits 3 | 2.15% | 2.15% | from 0 to 125% |
Interim bonuses are payable at the regular bonus rates for 2019.
Terminal bonus is calculated as a percentage of the with profits unit account in respect of each policy year's premium payments and depending on the number of years of participation completed.
These rates apply to policies becoming claims by maturity and death with effect from 1 January 2020.
From 1 January 2020 the bonus rate is 2.5% p.a. for business sold or benefits switched to with profits before 1 July 2001 and 2.65% for business sold or benefits switched to with profits after 30 June 2001
In addition to the bonus rates above, a terminal bonus may be payable to money purchase schemes. The terminal bonus is calculated as a percentage of the amount of the with profits unit account in respect of each year's premium payments, the percentage depending upon the number of years of participation completed.
The maximum terminal bonus rate for business sold or benefits switched to with-profits before 12 September 2000 is 216% and, for business sold or switched to with profits before 30 June 2001, 78%. Business sold or benefits switched after 30 June 2001 has a maximum terminal bonus of 131%.
These rates apply to policies becoming claims by maturity and death with effect from 1 January 2020.
For defined benefit schemes no special bonuses have been declared for 2019. Special bonuses in lieu of terminal bonus may be declared in the future but their size and timing will depend, amongst other things, on future investment conditions.
The directors declared regular bonuses for 2018 and terminal bonus for claims in 2019 in respect of these unitised with profits contracts. The bonus rates are shown in the table below:
| Regular bonus rate on basic units | Regular bonus rate on declared bonus units | Terminal bonus rate | |
|---|---|---|---|
| With Profits 1 | 2.0% | 2.0% | from 0 to 136% |
| With Profits 2 | 2.0% | 2.0% | from 0 to 71% |
| With Profits 3 | 2.18% | 2.18% | from 0 to 115% |
Interim bonuses are payable at the regular bonus rates for 2018.
Terminal bonus is calculated as a percentage of the with profits unit account in respect of each policy year's premium payments and depending on the number of years of participation completed. These rates apply to policies becoming claims by maturity and death with effect from 1 January 2019.
From 1 January 2019 the bonus rate is 2.0% p.a. for business sold or benefits switched to with profits before 1 July 2001 and 2.18% for business sold or benefits switched to with profits after 30 June 2001.
In addition to the bonus rates above, a terminal bonus may be payable to money purchase schemes. The terminal bonus is calculated as a percentage of the amount of the with profits unit account in respect of each year's premium payments, the percentage depending upon the number of years of participation completed.
The maximum terminal bonus rate for business sold or benefits switched to with-profits before 12 September 2000 is 178% and, for business sold or switched to with profits before 30 June 2001, 72%. Business sold or benefits switched after 30 June 2001 has a maximum terminal bonus of 119%.
These rates apply to policies becoming claims by maturity and death with effect from 1 January 2019.
For defined benefit schemes no special bonuses have been declared for 2018. Special bonuses in lieu of terminal bonus may be declared in the future but their size and timing will depend, amongst other things, on future investment conditions.
The directors declared regular bonuses for 2017 and terminal bonus for claims in 2018 in respect of these unitised with profits contracts. The bonus rates are shown in the table below:
| Regular bonus rate on basic units | Regular bonus rate on declared bonus units | Terminal bonus rate | |
|---|---|---|---|
| With Profits 1 | 2.0% | 2.0% | from 0 to 115% |
| With Profits 2 | 2.0% | 2.0% | from 0 to 61% |
| With Profits 3 | 2.18% | 2.18% | from 0 to 96% |
Interim bonuses are payable at the regular bonus rates for 2017.
Terminal bonus is calculated as a percentage of the with profits unit account in respect of each policy year's premium payments and depending on the number of years of participation completed. These rates apply to policies becoming claims by maturity and death with effect from 1 January 2018.
From 1 January 2018 the bonus rate is 2.0% p.a. for business sold or benefits switched to with profits before 1 July 2001 and 2.18% for business sold or benefits switched to with profits after 30 June 2001.
In addition to the bonus rates above, a terminal bonus may be payable to money purchase schemes. The terminal bonus is calculated as a percentage of the amount of the with profits unit account in respect of each year's premium payments, the percentage depending upon the number of years of participation completed.
The maximum terminal bonus rate for business sold or benefits switched to with-profits before 12 September 2000 is143% and, for business sold or switched to with profits before 30 June 2001,68%. Business sold or benefits switched after 30 June 2001 has a maximum terminal bonus of102%.
These rates apply to policies becoming claims by maturity and death with effect from 1 January 2018.
For defined benefit schemes a special bonus of 5% has been declared for 2017 in lieu of terminal bonus. Further special bonuses in lieu of terminal bonus may be declared in the future but their size and timing will depend, amongst other things, on future investment conditions. The size of the bonus this year should not be taken as an indicator of possible future special bonuses.
With Profits is a type of pooled arrangement that may invest in companies, both in the UK and overseas, government stocks, property, and other types of assets. Instead of receiving direct investment returns, for example dividends, rents, interest and capital appreciation, With Profits planholders receive bonuses.
Two types of bonuses may be paid: an annual bonus and a final bonus. The type of contract held will determine how bonuses are paid. For example, for our Crest contracts the annual bonus is included in the unit price which is calculated daily.
The rate of annual bonus included in the unit price is decided from time to time by the Directors after receiving actuarial advice and making an allowance for expenses. This means that in periods where direct investment returns fall in value, we are still able to allocate a bonus to planholders. This also works the opposite way, with planholders being unlikely to receive the same percentage of investment returns over a good period.
For the unitised With Profit funds available to our Talisman, Retirement Solutions and individual range of contracts, the unit price stays constant and bonus units are declared at least yearly. In addition a final bonus may be payable on retirement, death, transfer or a switch to other funds for all of the fund ranges.
When exiting the With Profits fund a Market Value Reduction (MVR) may be applied to reduce the value of units in adverse market conditions. The reduction is applied to ensure a fair level of payouts to everyone invested in the fund. If this did not occur, the investors remaining in the fund would not receive their fair asset share. The MVR does not apply to units on death or at the chosen retirement date. It is important to remember that your client may not get back the amount originally invested.
Payments made into a plan which invests in the With Profits fund are invested in the Royal London Ordinary Long Term fund.
More detailed information on asset allocation and investment returns can be found in the following factsheet:
All companies who offer with profits investments are required to publish a document detailing the way in which they manage the With Profits fund. You can find copies of our Principles and Practices of Financial Management (PPFM) by visiting Royal London PPFM.
On this page you can also find our Directors' Reports and information on our investment mix and investment returns.