Covers all UK With-Profits plans issued to UK planholders by companies in M&G plc, including PAC, Prudential International Assurance plc (PIA), Scottish Amicable Life Assurance Society (SALAS), Scottish Amicable Life plc (SAL), and Prudential (AN) Limited (PANL). It also includes With-Profits Annuity plans transferred from Equitable Life Assurance Society to PAC.
How we manage our With-Profits Fund
Principles and Practices of Financial Management (PPFM)
Contents
What are PPFMs and why do they matter?
PPFMs explain how we manage our With-Profits Fund. They set out
- the decisions we make to manage the fund, and
- how we use discretion to balance the interests of customers and shareholders fairly, even when those interests conflict.
What do Principles and Practices mean?
- Principles: The long-term standards we follow when managing With-Profits business and adapting to major changes in the economy or our business.
- Practices: The shorter-term actions we take to respond to changes. These are updated more often than Principles.
Who are PPFMs for?
They help financial advisers and other knowledgeable readers understand the material risks and rewards from starting and continuing an investment in a With-Profits plan with The Prudential Assurance Company Limited (PAC).
We have two versions of PPFMs
A shorter version of the full PPFM focused on UK With-Profits plans investing in PruFund issued by or reinsured into PAC.
PAC’s PPFMs mainly apply to UK business, but similar principles generally apply to overseas business transferred or reinsured into PAC.
Further information about our With-Profits business
-
Prudential’s compliance with the Principles and Practices of Financial Management and With-Profits Actuary’s Report (PDF)
This document confirms how we comply with the Principles and Practices of Financial Management. This contains the current version of the With-Profits Actuary’s Report.
-
Prudential’s Principles and Practices of Financial Management – Summary of changes (PDF)
This document outlines the notable changes made to Prudential’s PPFM since it was first published.
-
Prudential’s With-Profits Committee– Terms of Reference (PDF)
This document outlines the current terms of reference of the Prudential With-Profits Committee.
With-Profits Guides
We also produce simpler guides to our with-profits products. You can download the appropriate guide below, based on which type of product and/or fund you're invested in.
Please make sure you also read the Key Features Document appropriate for your product.
The products listed below are not exhaustive – so if you can’t find what you’re looking for, or, if you’re unsure which guide applies to your product, you can get in touch.
PruFund range of funds
-
PruFund range of funds (PDF)
This document is applicable to the following products; ISA, Prudential Investment Plan (PIP), Trustee Investment Plan (TIP), PruFund Investment Plan (PFIP), Flexible Investment Plan (FIP), Flexible Retirement Plan (FRP) and Pension Choices Plan (PCP).
-
PruFund (Pricing Series E) range of funds (PDF)
This document is applicable to Retirement Account (Pricing Series E) investments.
-
PruFund (Pricing Series D) range of funds (PDF)
This document is applicable to Retirement Account (Pricing Series D) investments.
-
Prudential Flexible Investment Plan (Series S) (PDF)
This document is applicable to Flexible Investment Plans sold by Santander financial advisers.
-
PruFund (Pricing Series F) range of funds
This document is applicable to PruFund (Pricing Series F) investments.
Unitised and Cash Accumulation With-Profits
-
Prudential Unitised and Cash Accumulation With-Profits Plans (PDF)
This document is applicable to Prudential Unitised With-Profits Plans including the Flexible Retirement Plan (FRP), Prudential Investment Plan (PIP), Trustee Investment Plan (TIP), and Flexible Investment Plan (FIP); Premier Pension Plans; Prudential Savings Account (PSA), Prudence Investment Bond (PIB), and PruBond; Group Personal Pension plans (GPP), Money Purchase Plans (MPP) and Executive Pension Plans (EPP); and all Cash Accumulation With-Profits Plans.
-
Unitised With-Profits Plans originally issued by SALAS (PDF)
This document is applicable to Unitised With-Profits Plans originally issued by Scottish Amicable Life Assurance Society (SALAS) including IndePension (Series 1 – 4) and Home Purchaser (Series 3).
-
Unitised With-Profits Plans originally issued by SAL (PDF)
This document is applicable to Unitised With-Profits Plans originally issued by Scottish Amicable Life Plc (SAL) including Home Purchaser (Series 3) and Series A Pensions.
Conventional With-Profits
-
Prudential Conventional With-Profits Plans (PDF)
This document is applicable to Prudential Conventional With-Profits including Prudential Personal Retirement Plan and With-Profits Endowment.
-
Conventional With-Profits Plans originally issued by SALAS (PDF)
This document is applicable to Conventional With-Profits Plans originally issued by Scottish Amicable Life Assurance Society (SALAS) including Flexi-pension (Series 2) and Flexidowment.
With-Profits Annuities
-
Prudential Income Choice Annuity (PDF)
This document is applicable to Income Choice Annuities which started on or after 7 November 2011. This guide does not apply to a small number of Income Choice Annuities which were set up between 7 November and 16 December 2011, or to Income Choice Annuities which were started before 7 November 2011.
-
Prudential With-Profits Annuity Plans (PDF)
This document is applicable to Prudential With-Profits Annuity Plans.
-
Former Equitable Life Assurance Society With-Profits Annuity Plans (PDF)
This document is applicable to former Equitable Life Assurance Society With-Profits Annuities effective from 1 January 2008.
-
Prudential Income Choice Annuity (pre 07/11/2011) (PDF)
This document is applicable to Income Choice Annuities which started before 7 November 2011.
Prudential International Assurance
-
Prudential International Investment Bond and International Prudence Bond - The PruFund Range of Funds (PDF)
This document is applicable to the PruFund Range of Funds within the Prudential International Investment Bond (PIIB) and International Prudence Bond (IPB).
-
Prudential International Investment Bond and International Prudence Bond - Your With-Profits Bond - guide to how we manage the Fund (PDF)
This document is applicable to the PAC With-Profits Funds within the Prudential International Investment Bond (PIIB) and International Prudence Bond (IPB).
-
International Portfolio Bond – Your With-Profits Bond – a guide to how we manage the Fund (PDF)
This document is applicable to the PruFund Range of Funds within the International Portfolio Bond.
Credit Matched With-Profits
Further information
Current information regarding the asset mix and investment returns
Prudential's Statement of Unit-Linked Principles and Practices
We’ve published a statement of the Principles and Practices used in the management of our Unit-Linked funds.
Contact us
Need more help?
If you can’t find what you’re looking for, or need more help, there are a number of ways you can get in touch.
