Prudential has announced that they will be cutting final payouts on with profit policies again. The cuts follow the company's announcement that they are trying to protect the strong financial position of the fund and the interests of ongoing customers in the light of poor stockmarket performance.
The Prudential Chief Executive for Europe and the UK said "customers can be reassured that our with profits fund has outperformed the market and is providing them with sold returns compared to other investment options". The bonus cuts are thought to total around 7%. Ongoing annual (or reversionary) bonuses are not affected.
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