Prudential Investment Bond

sigurd12

Hi I opened the above in August 2001 paying in £30.00 per month. Ive just had my annual statement and it seems that there has been very little profit since last year. I know these products are for short to medium lengths. I just wondering whether to carry on with the bond or cash it in. Not sure how it would affect me Tax wise if I cashed it all in.

Newbie_John

What's very little profit? 
You've put £8280 there, how much is it now? £10431 would be equivalent to having a 2% savings account topped up by £30 every month.

sigurd12

Thanks for your reply my point was that from last to this year I have an extra £14.37 on the total I had paid in over the last year. 

wmb194

sigurd12 said:

Hi I opened the above in August 2001 paying in £30.00 per month. Ive just had my annual statement and it seems that there has been very little profit since last year. I know these products are for short to medium lengths. I just wondering whether to carry on with the bond or cash it in. Not sure how it would affect me Tax wise if I cashed it all in.

What is it invested in?

dunstonh

Hi I opened the above in August 2001 paying in £30.00 per month. Ive just had my annual statement and it seems that there has been very little profit since last year. 

The stockmarkets didn't start to bounce until October 2023.   Bonds, were volatile from Nov 2021 to October 2023, had a good 3 months and then fell back again in early 2024.  They have recovered a bit recently.

So, it really depends on which of the with profit funds you are in (Pru had several at that time covering different risk equity levels) and what period you are looking at.    

sigurd12

Hi it’s called New World Life with Prudential. From what’s been said maybe this last year 23/24 has not been so good as stated