Frequently Asked Questions - Annuities

If your payment is due on a non-working day or bank holiday, we will pay this on the first available working day before the due date. We suggest you also contact your bank directly for clarification that there is not a delay when they are processing this payment.

No. The Government has announced that they've cancelled their plans to allow people to sell their annuities. This was due to start from April 2017. You can read more on gov.uk.

If you have an annuity with us, we’ll continue to pay your income as normal.

Prudential UK & Europe wishes to advise its customers that it has agreed with the Financial Conduct Authority (FCA) to review annuities sold without advice after 1 July 2008 to its contract-based defined-contribution pension customers.

The review will examine whether these customers were given sufficient information about the availability of, and their potential eligibility for, enhanced annuities. The review will also look at whether these customers could have potentially received a higher income from Prudential or another provider. In due course Prudential will contact customers who may not have been given sufficient information and will provide redress, where appropriate.

With MyPru it’s easy and convenient to access your policy online. It allows you to view and update information about your annuity whenever you need to.

  • See a summary of your policy details
  • Update your UK address and bank details as well as your email and phone number
  • View and store key policy documents (including P60s) in a safe and secure place
  • Contact us via secure message rather than phoning

If you have not yet registered for MyPru, it’s safe and secure and registration only takes a few minutes. Remember to have your 16 digit annuity reference to hand and enter it in the format 012345/0123456789 - register for MyPru.

If your personal details (such as UK address, phone number or email address) have changed, the easiest way to update them is to use MyPru. If you have not yet registered for MyPru, it is safe and secure and registration only takes a few minutes. Remember to have your annuity reference number to hand and enter it in the format 012345/0123456789 - register for MyPru.

Alternatively, you can get in touch with us using any of the contact options shown below. If you need to change a non UK address, you will need to call us or send a secure message from MyPru.

If you are looking to change your name or marital status you will need to write to us at the address below and send the following:

  • Your annuity reference number, your previous name, your new name and your new signature.
  • Your original Marriage Certificate, Deed Poll or Decree Absolute (this will be returned to you straight away).

Prudential
Lancing
BN15 8GB

If your UK bank or building society details have changed, the easiest way to update them is to use MyPru. If you have not yet registered for MyPru, it’s safe and secure and registration only takes a few minutes. Remember to have your 16 digit annuity reference to hand and enter it in the format 012345/0123456789 - register for MyPru.

Alternatively, you can get in touch with us using any of the contact options shown below. We'll also let you know if we need you to complete any additional forms in order to update our records. Please note: you can’t use MyPru to change foreign bank details.

There are two options available for your income to be paid to you:

  • directly into a UK based bank or building society account in your name (either solely or jointly).
  • into an overseas account in your name. We can make payments in Sterling and in foreign currencies to overseas banks. This option covers the EU as well as many other countries worldwide. Please note: changes in the rates of exchange between currencies can cause your income to go down or up. Your bank may also charge if we pay you this way.

If your bank/building society or address details have changed, you can get in touch with us using any of the contact options shown below. We'll also let you know if we need you to complete any additional forms in order to update our records.

You can find your most recent P60(s) on MyPru if you log on and go to the Document Storage area. You will also find previous P60s going back to 2015/2016. If you haven’t registered for MyPru yet, it’s easy to do and you can find out more on the registration page.

Alternatively, get in touch with us using any of the contact options on our contact us page and we'll send you a letter containing all of the information on your P60.

In line with HM Revenue & Customs requirements, we'll send you your end of year tax certificate by 31 May each year (unless you have selected to be paperless). It will also be available on MyPru for registered users from around 1 week after the end of the tax year. If you are registering for MyPru for the first time, it will become available around 48 hours after registering if it hasn’t yet been sent.

You don't need to do anything in this instance. HM Revenue & Customs will notify us of the change when they issue the new code to you.

HMRC will notify us of any tax code changes as and when they occur. Please note you may receive a revised tax code before we are notified, but we are only able to update it once we have been directly notified by HMRC.

Your pension is treated as earned income and is subject to tax under the HM Revenue & Customs (HMRC) Pay As You Earn scheme. 

The rate of tax depends on your personal circumstances and your tax code. Until we receive a notice of tax coding from HMRC, your annuity is taxed at a rate which assumes you are entitled to the current basic personal allowance. The tax code shown on your P60 is for the final payment in the tax year covered by that P60. If you have more than one P60, they could have different tax codes due to multiple sources of income.

Please contact HMRC in the first instance as we use the tax codes they provide. Their contact details are:

Pay As You Earn and Self Assessment
HM Revenue & Customs
BX9 1AS
United Kingdom

Telephone (from UK): 0300 200 3300
Telephone (from abroad): +44 135 535 9022

If you call them, please quote your National Insurance number and your 16 digit annuity reference. They may ask you for Prudential’s tax district and reference number (or PAYE reference) which is on your P60.

There is also useful information on their website www.hmrc.gov.uk.

No. Annuity payments are not subject to National Insurance deductions.

If you need to notify us of a bereavement, please get in touch with us using any of the contact options on our contact us page.

We'll ask for several pieces of information, which will help establish if any further benefits are due. Please have the following information to hand when you call us:

  • The deceased's full name, date of birth and address.
  • The deceased's exact date of death.
  • If available, the deceased's annuity reference number(s).
  • Your full name, date of birth, address & your relationship to the deceased.*
  • If applicable (and if different from above), the spouse/civil partner/partner's full name, date of birth, address, national insurance number and bank details (sorting code & account number).

* If you are the executor/ personal representative of the estate, we will need you to confirm the information above.
If you are not the legal spouse/civil partner/partner of the deceased and they have left one, we will have to gain authority from the legal spouse/civil partner/partner, for you to be able to represent them. If the spouse/civil partner/partner is present with you when you call us, we can talk to them very briefly to establish they are happy with you representing them.

What happens next

Once we have all this information, we may ask you to send us the original Death Certificate (not a copy) to the address below, which will be returned to you straight away. We will then process the Bereavement and will contact you regarding the annuity/annuities.

Death Notifications and Written Authorities can be sent to us at: Annuities Bereavements, Prudential, Lancing, BN15 8GB.    

Product information

Call us

0345 640 0000 0345 640 0000

or +44 118 964 5024 if phoning from abroad

Our lines are open 8:30am-6pm, Monday to Friday.

Calls may be recorded for security and quality purposes.

Write to us

Prudential Customer Services
Lancing,
BN15 8GB