Prudential With-Profits Pension Annuity

Thanks for choosing us to provide your annuity - you're alongside more than one million people around the UK who also have their annuity with us.

What you may be looking to do:

  • Change your income
  • Find out more about your With-Profits Annuity
  • Change your personal details
  • Notify us of a death

If you have a query or question that is not covered in the information below then please contact us and we will be happy to help.

If you are thinking about changing your ABR on your With-Profits Annuity then please read this information before making any ABR change decision.

Change your Anticipated Bonus Rate (ABR) on your With-Profits Pension Annuity.

When you set up the plan we sent you a Key Features Document along with your terms and conditions. These are a good source of information. If you can’t find these documents then please call us and we can send out a duplicate copy to you.

You can also find information on how we manage the With-Profits Fund and how this is linked your annuity by reading the Prudential's Principles and Practices of Financial Management and Your With-Profits Plan – a guide to how we manage the Fund.

The With-Profits Pension Annuity 2019 Bonus declaration flyer shows the bonuses we have declared this year and historically. The effect this has on your income will be shown in your annual statement.

2018 was a difficult year for financial markets, which experienced lots of ups and downs. These impacted our With-Profits Fund because it invests globally in many different investments. Despite this we’ve been able to provide some protection to our customers from the extremes of market volatility through the bonuses that we’ve announced at the 2019 declaration.

We’ll continue to manage the Fund prudently. We’ll aim to secure the highest total return for the Fund (after any tax and investment expenses) while maintaining an acceptable level of risk and protecting our planholders. We’ll also continue to smooth some of the extreme highs and lows of investment performance.

The table below shows our With-Profits Fund returns for this year and over the last 10 years.

Bonus Declaration Year











Gross Fund Return in preceding year











Source: Prudential. 'Gross' refers to before tax, charges and the effects of smoothing.

We review your income each year and any change to your income will be made on your plan anniversary. Any income change will be dependent on the most recent bonus declaration and your chosen Anticipated Bonus Rate.

Your annual statement is issued each year before your policy anniversary.

If your annuity income is due to change, we'll notify you in advance of this happening (approximately seven weeks before your plan anniversary). If you've not received your annuity statement or weren't expecting any change in income, please contact us.

This may be a result of a change in tax code or in gross payment amount. If you have any questions about tax, please contact HM Revenue & Customs on 0300 200 3300.

We will only write to let you know if the payment amount changes by more than £10.00. Please note that you may receive a notification letter before your payment date.

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.

If you have any more questions, please get in contact with us.

Depending on when your plan started you may be able to switch to a Prudential Guaranteed Pension Annuity. Once you switch, you can't change back. Your GPA income may be higher or lower than the income you are receiving through the With-Profits Annuity, so you need to think about this carefully.

If this option is available to you it will be shown in your annual statement. You can also refer to you Key Features Document we would have sent you when you bought the policy and your terms and conditions. If you no longer have a copy of these documents then please contact us.

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 at

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

Please 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.

Your income can be paid to you in two ways:

  • directly into a UK based bank or building society account that’s in your name (either solely or jointly).
  • into an overseas account that’s in your name. We can pay you 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.

Please get in touch with us using any of the contact options shown below.

If you are looking to change your name or marital status you will need to write to us with 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).

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No - you don't need to do anything. HM Revenue & Customs will notify us of the change when they issue the new code to you.

Yes - 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.

Or we'll send you your end of year tax certificate by 31 May each year, in line with HM Revenue & Customs requirements.

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’re the executor/ personal representative of the estate, we’ll need you to confirm the information above.

If you’re not the legal spouse/civil partner/partner of the deceased and they have left one, we’ll need authority from the legal spouse/civil partner/partner, for you to be able to represent them. If the spouse/civil partner/partner is with you when you call us, we can talk to them very briefly to confirm 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), which will be returned to you straight away (see address below). 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:

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Contact us

How to get in touch with us

We recommend that you contact your adviser in the first instance. If you don't have one, please contact us. You will need your annuity reference number to hand when contacting us.

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

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