On this page you'll find the investment returns and asset mixes for all our with profits bonds, and information on how these relate to the bonuses we pay.

The returns, or bonuses, added to a plan over the years will not be the same as the returns shown in the tables below. Please see the section Factors affecting the bonus rates.

With profits bonds performance history

View the investment returns for the assets that specific with profits bonds invest in:

With profits bonds investment mix

The money invested in a with profits bond is combined with money from other with profits investors in the With Profits Fund. The With Profits Fund invests in a mix of assets, such as UK and overseas shares, fixed interest securities and commercial property. 

While everyone is invested together in the With Profits Fund, the investment approach may vary depending on the type of plan held. This may be for a number of reasons, one of which is to reflect the features and benefits of different with profits products.

View the asset mixes for our with profits bonds as at 31 December 2017:

Factors affecting the bonus rates

The returns, or bonuses, added to a plan over the years will not be the same as the returns shown in the tables at the top of this page.

Investment returns, less any tax applicable, are the most important factor in deciding how much bonus we pay. These depend on the mix of assets your policy is invested in and how these assets have performed.

We also consider the following:

  • Historic investment returns experienced over the period of your investment.
  • Bonuses already declared.
  • Our view of future investment conditions. 
  • When you started your policy.
  • The effects of smoothing. Smoothing means that in years of good investment growth we may hold back some of the investment returns, so that we can top up bonuses in years where the performance is not as good. You can find more information on smoothing in our  Understanding Smoothing (Q38839) (PDF: 42KB)  factsheet.
  • The type of with profits policy you have and the terms of your policy, including the type and extent of any guarantees.
  • Money built up in the With Profits Fund that is over and above what we expect to need for future obligations such as tax, expenses and future bonuses to policyholders.

    Expenses charged to the With Profits Fund include regular payments into the Legal & General defined benefit pension schemes. In 2017, the Board decided to make a one off payment from the With Profits Fund which means that these ongoing payments into the pension schemes from the With Profits Fund will stop. We don’t expect this change to cause a reduction in bonus rates.
  • The costs of running your policy.
  • Any other adjustments, for example to cover an increase in the cost of guarantees and options. For the bonus declaration for 2017, there will be no adjustments.

Some income bond customers (those not eligible for a final bonus) will receive an annual bonus rate for 2017 which is higher than the interim bonus rate for 2017. This increased rate is likely to be a one off and it is expected to reduce to around the level of the interim bonus rate in future years.