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Pru cuts terminal bonus rates

Prudential has cut terminal bonus rates on its Prudence Bond and personal pensions. Terminal rates for both are down 0.25 per cent to 4.5 per cent and 5 per cent respectively.

A total of £2.8bn will be added to policies in the UK with-profits funds. On a 20 year personal pension policy the payout will be £190,941 down from £203,930 last year based on a male aged 30 paying £200 per month.

Reversionary bonuses on unitised life business are down to 4.5 per cent from 4.75 per cent, and on unitised personal pensions down to 5 per cent from 5.25.


Skipton Building Society – 2 Year Step Up Bond

Wednesday, 28th February 2001.Type: High interest account.Minimum-maximum investment: £3,000-£1m.Interest rates: 5.5 per cent until April 22, 2002, 6 per cent until April 22, 2003.Term: Until April 22, 2003.Offer period: Until April 22, 2001.Withdrawal penalties: 20 per cent of initial investment can be withdrawn without penalty. Minimum withdrawal £500.Tel: 0800 446776. 

Standard Life – Stakeholder Pension

Tuesday, 27th February 2001.Type: Individual stakeholder pension.Minimum premium: £20.Minimum-maximum ages: 0-74.Fund links: Stakeholder with-profits, stakeholder cautious managed, stakeholder property, stakeholder FTSE tracker, stakeholder protection, stakeholder UK equity, stakeholder ethical, stakeholder North American, stakeholder fixed interest, stakeholder managed, stakeholder sterling, stakeholder stock exchange, stakeholder international, stakeholder Japanese, stakeholder European.Charges: Annual 1 per cent. Reduction of 0.2 […]

Chiefs cross swords in mortgage rate war

The mortgage rate war between two of the UK&#39s top lenders has heated up with Nationwide chief executive Brian Davis attacking his Halifax counterpart James Crosby for allegedly making misleading claims. In a letter sent by Davis to Halifax chief executive Crosby last Friday, Davis accuses Halifax of wrongly claiming its mortgages are cheaper than […]

Autif predicts 30% Isa dive as markets falter

Isa sales plummeted by 20 per cent in January as sales by tied agents overtook IFAs, according to Autif figures. Autif is predicting that total sales for this Isa season could be a third lower than last year. Tied agent sales were up by £8m to £266m in January from £258m in January 1999 while […]

Time to stop the salami slicing on tax relief

Steve Webb  – Director of Policy and External Communications As the Autumn Statement approaches, Steve Webb calls for the Government to stop tinkering with tax relief. Twice a year, in the run-up to the Spring Budget and the Autumn Statement, we face a torrent of speculation as to what changes the Chancellor might make to […]


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