Prudential PEP
Your Prudential PEP offered you a tax-efficient way of saving. PEPs were reclassified as stocks and shares ISAs on 6 April 2008 and are now subject to new ISA rules and allowances.
What does this mean for my investment?
The following changes took place as a result of the reclassification
| Product name pre 6 April 2008 | Product name post 6 April 2008 | Open or closed to new investments/transfers? |
|---|---|---|
| Mini Prudential ISA | Prudential ISA | Open to new investments and transfers |
| Maxi Prudential ISA | Ex Maxi Prudential ISA | Closed. Any new investments and transfers will be placed into the Prudential ISA. |
| Prudential PEP | Ex PEP Prudential ISA | Closed. Any new investments and transfers will be placed into the Prudential ISA. |
| Prudence Classic PEP Prudence Self Select PEP Prudence PEP Prudential Type A PEP Prudential IMRP Regular Saver PEP |
Ex PEP Prudence ISA | Closed to new investments since April 1999. Any new investments and transfers will be placed into the Prudential ISA. |
Will you combine my PEP and previous years' Mini and Maxi ISAs into one account?
To ensure you can still easily view and manage the investment you made before 6 April 2008 into different Prudential products, we will not combine your PEP and Mini and Maxi ISAs into one account.
Can I still withdraw my money from the closed products?
Yes you can. These products are only closed to new investment or transfers in.
Will I still be able to switch trusts within the closed products?
Yes you can still switch from one trust to another.
What happened with my direct debits and the closed products?
The closed products stopped accepting further subscriptions so we ensured your payments were made into the Prudential ISA unless you advised us otherwise.
Did the changes affect the number of unit/shares in each trust?
No. The number of units/shares in each of your trusts were not affected by the changes.
Review your Ex-PEP
- To find out more about your Ex-PEP call 0845 783 5500 (Monday-Friday 8am-6pm), or send a request online.
- Request a fund valuation online.
This is based on our current understanding as at August 2010 of current tax legislation and HM Revenue & Customs practice, both of which may change without notice. The amount of tax relief actually received will depend on your individual circumstances.
