Here are some useful guides and factsheets to help you understand the features of with profits.

A guide to how we manage your conventional with profits investment  
Read this customer friendly version of our Principles and Practices of Financial Management for more information on how we manage your plan. Please note, this booklet is for plan numbers that start with 0, 0T0, G or P.

A guide to how we manage your unitised with profits investment
Read this customer friendly version of our Principles and Practices of Financial Management for more information on how we manage your plan. Please note, this booklet is for plan numbers that start with UK, US, U, UP, 2, 3, 4 or 5.

Latest Annual Bonus Factsheet
For more information on our latest annual with profits bonus declaration, please read this factsheet.

Understanding Smoothing 
A key feature of with profits is smoothing. Smoothing aims to even out some of the short-term ups and downs that may be experienced when investing directly in the stock market and other investments. Read our factsheet on smoothing for more information.

Understanding Market Value Reductions
A market value reduction (MVR) is an adjustment to the amount we pay out if you take money out of your with profits investment in certain circumstances. The amount you receive would be based on your fair share of the With Profits Fund and may mean you get back less than you expect. Read our factsheet on MVRs for more information.

Principles and Practices of Financial Management (PPFM)
The Financial Conduct Authority (FCA) rules for the governance of with profits business require us to publish Principles and Practices of Financial Management (PPFM).  It contains a detailed description of our approach to managing with profits.

Notification of changes to our Principles and Practices of Financial Management
For the latest changes to the Principles and Practices of Financial Management, please read this document. See our History of the Principles and Practices of Financial Management page for details of the changes made to the PPFM.

Board Report on Compliance 2017
Every year, our Board of Directors reports to policyholders on compliance with the Principles and Practices of Financial Management for the period January to December. For more information on this, please read the report.

With Profits Committee Terms of Reference
We have appointed a Committee to provide governance on how we operate our With Profits Fund, to comply with the Financial Conduct Authority's rules. For more information on the roles and responsibilities of both the Committee and Legal & General with relation to this arrangement, please read the Terms of Reference document.