Q&As for Prudential policyholders

You may have some questions if you already have funds invested in Prudential's With-Profits fund. Is this Transfer going to affect you and how? We've listed some commonly asked questions and answers below.

If you are an Equitable Life Policyholder and you have any queries relating to this transaction, you can contact Equitable Life on 0330 159 1530 between 9am and 5.30pm, Monday to Friday. Alternatively further information is available on their website at www.equitable.co.uk

If you have any Prudential related questions regarding the Transfer (whether you are a Prudential or Equitable Life Policyholder), please contact us on 0345 640 0000, 8.30am - 6pm Mon to Fri, or see below for other ways to contact us.

The benefits for Prudential are mentioned in their Chief Executive's letter to Policyholders which is on page 7 and 8 of the Policyholder Circular. In particular, he notes that as a result of the Transfer, Equitable Life's With-Profits annuities will create opportunities for synergies within Prudential in terms of costs and investment management. The transaction also represents a significant increase in Prudential's With-Profits business, which is an area of its strategic focus. Prudential will receive a large block of business from which they expect to make a profit (with no increase in current levels of charges).

As a Prudential With-Profits Policyholder, there should be no adverse impact on the benefits you can reasonably expect, and the security of your guaranteed benefits will not be materially affected.

The transferring policies will be allocated to the Defined Charge Participating Sub-Fund. The assets backing these policies will be transferred from ELAS to Prudential and will be pooled with the assets in our main With-Profits fund.

The PAC With-Profits Fund is supported by a substantial Inherited Estate which provides the working capital required to support current and future business, and also helps provide greater investment flexibility for the long-term benefit of our customers. Accordingly, PAC does not consider that policyholders have any expectation of a distribution of the Inherited Estate.

Any special bonus paid to Equitable Life Policyholders will be funded by the transferring Policyholders' share of the working capital of Equitable Life. As a Prudential Policyholder, you do not stand to benefit from this.

No - only members of Equitable Life can vote for or against this proposal.

The FSA produced a report on the Transfer which was lodged with the court, prior to the Court Hearing on 28th November 2007. You can access this report from the Equitable Life transfer details page on the left.

Mr SJ Sarjant FIA, a consulting actuary with Watson Wyatt Limited, has been appointed as the Independent Expert to advise the Court of the potential impact of the proposed transfer on Policyholders. Mr Sarjant has over 23 years experience in the UK life assurance industry and has advised a number of clients in connection with insurance business transfers involving With-Profits business. His appointment has been approved by the Financial Services Authority (FSA).

You can write to us at Prudential, Annuities Contact Centre, Lancing BN15 8GB or call us on 0345 640 0000. Lines are open 8.30am - 6.00pm, Mon to Fri.

Please note that we can only answer general queries regarding the Transfer. If you have any questions about your policy, unrelated to the Equitable Life Transfer, please call the number detailed on your policy documentation. Calls may be monitored or recorded for quality or security purposes.

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