Our Prospects Bond is no longer available. This bond is designed to provide longer term capital growth. Your money is invested in one of our With-Profits Fund, which invests in low to medium risk investments.
You are free to withdraw money at any time should you need to.
The Optimum Bonus (With-Profits) Fund aims to provide a higher Regular Bonus than the Optimum Return (With-Profits) Fund but is likely to have a lower Final Bonus.
The Final Bonus is not guaranteed and can be reduced, stopped or suspended at any time. Remember that the value of your fund may fluctuate and you may not get back your original investment.
What you may be looking to do:
- Take a lump sum from your bond.
- Make regular cash withdrawals.
- Change the funds your bond's invested in.
If you’re considering any of these, please look at the links at the bottom of this page.
Withdraw your money at any time
You can withdraw money at any time. But please note that certain withdrawals could be subject to charges or a Market Value Reduction.
Any withdrawal taken will reduce the value of your plan. If the withdrawals are more than any overall growth achieved the value of your plan will reduce below the level of the original capital invested.
Invested in our With-Profits Fund
Your money is invested in the With-Profits Fund. The value of your fund will depend on your particular bond and how it has performed. Smoothed returns aim to protect you against some of the ups and downs associated with investing directly in the stock market. The value of your investment may fluctuate and is therefore not guaranteed. You may not get back the full amount of your investment.
Withdrawals, equivalent of 5% each year of the premiums, can be taken without creating an immediate tax liability. The allowance ends once you have withdrawn 100% of the amount you invested. You do not pay basic rate income tax or capital gains tax on profit from the bond. There may be tax liabilities depending on your circumstances if you withdraw more than this and when you cash in your bond.
HM Revenue & Customs may not tax these regular payments as income in the same way that dividends or interest are treated. This is based on our current understanding of current tax legislation and HM Revenue & Customs practice, both of which may change. The amount of tax relief actually given will depend on your individual circumstances.
Read more about investments and taxation.
What will I get back?
This depends on many things, including the investment performance, which can go down as well as up, the length of time your money is invested, how we distribute any profits in the With-Profits Fund, charges and costs, smoothing and any tax liability, as well as other factors.
Review your Prospects Bond
By accessing MyPru, our secure online portal, you may be able to manage your enquiry yourself or alternately you can send us a secure email to deal with your query.
Within MyPru you can check the value of your policy, change personal details, view key documents and send us secure messages.
If you haven't registered for MyPru, registration only takes a few minutes. Remember to have your policy number to hand - register for MyPru.
Alternatively you can call us on 0345 640 1000 (Mon-Fri 8am-6pm), calls may be recorded for security and quality purposes.