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Legal & General WP. Final Bonus?
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tangowhisky
Posts: 2 Newbie
I have an old Legal & General With Profits retirement plan. The policy number begins with '0T'.
For years no bonuses have been added to this policy. The statements say that a 'final bonus' may be paid when I take the benefits.
Has anyone had recent experience of taking the benefits of this type of policy? Was any final bonus paid?
Tim
For years no bonuses have been added to this policy. The statements say that a 'final bonus' may be paid when I take the benefits.
Has anyone had recent experience of taking the benefits of this type of policy? Was any final bonus paid?
Tim
0
Comments
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I think it would probably vary from year to year.
It's a big word that....'May'
Perhaps you could ring and ask them about previous years.make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
A lot of providers have moved the bulk of their bonus potential into the final bonus since the dot.com crash. It helps them to meet solvency requirements.
Plans with guarantees tend to have little or no bonus rate as the real value is in the guarantee. Not some potential bonus rate.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Many thanks to you both.
I did ring L&G and they won't comment on past or future bonuses. They did give me a quotation for taking the benefits now and guess what... no final bonus!
Tim0 -
I have an ex-ScotMutual, now Phoenix, guaranteed 4% annual bonus WP pension that recently surprised me with a 30% Final Bonus on top.0
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