pension help needed

shipleylion

can anyone please tell me the difference between a terminal bonus and a final bonus in relation to a section 226 with-profits prudential retirement plan, started in 1977 and due to mature shortly. The Pru claim that only a final bonus is to be added to the annuity, but i have bonus statments from the 80s and 90s, clearly showing a terminal bonus, and then a final bonus are to be added to the basic annuity. Thank you in advance.

dunstonh

can anyone please tell me the difference between a terminal bonus and a final bonus in relation to a section 226 with-profits prudential retirement plan, started in 1977 and due to mature shortly.

Nothing. Modern name vs old fashioned name. That is all.

shipleylion

Thanks dunstonh for your reply, but can i just be clear that the bonus statments i have from the 80s and 90s show the pension will be made up of a basic annuity, plus an annual bonus, then a terminal bonus, then a final bonus which is in lieu of profits made after the pension begins, the statments show that the terminal and final bonus's are two different additions.

dunstonh

The terminal bonus is the final bonus. It can accrue (or reduce) as it goes along but gets reviewed again on maturity and may have a further increment added to it.

There are three bonus types. Reversionary (now known as annual), terminal (now known as final) and special bonus. Companies may have presented them in different speak over the years but that is what they boil down to.

shipleylion

Whats happened to all the posts regarding dunstonh.

bigadaj

shipleylion wrote: »

Whats happened to all the posts regarding dunstonh.

Some information on this would be useful from the forum team, to stop speculation and further disruption to the wider site. We have had speculation from touting for business to abusive exchanges, and some indication would be helpful together with whether this is temporary or permanent.

Removing spammers and obvious trolls is a good and necessary service, but a long term helpful poster who gives much useful information with no indication why seems odd. Which is not to say that I didn't have several antagonistic exchanges with him, as many others have, it's just that his presence certainly added something to this forum.

bowlhead99

I see the banner at the top of each page now has "Lest we forget" on it.

Gone but not forgotten!