Prudential reintroduces MVR-free withdrawals

The Prudential has restored its option of MVR-free withdrawals of £10,000 to £25,000 in any 12-mont...

The Prudential has restored its option of MVR-free withdrawals of £10,000 to £25,000 in any 12-month period for with-profits policies over five years old and lowered penalties across its range. MVRs across the group’s range of with-profits products have fallen from an average level of 6.3% in 2003 to 4.3% by February 2004. The Pru has also confirmed its announcement earlier this year that 2004 bonus rates on with-profits savings and investment policies will stay at roughly the same level as in 2003, despite returns of 16.5% last year. Prudence Bond holders will have a regular bonus of 3...