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Pru cuts annual bonus rates

Prudential has cut annual bonus rates from 3.5 per cent to 3 per cent on with-profits bonds and personal pensions and from 2.75 per cent to 2 per cent for Prudential-sold annuity customers. Investors will see their WP policy values drop by 6-10 per cent, with the firm pouring in £2.8bn to smooth the fund.

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