With Profits

Hundreds of thousands of policy holders with pensions, insurance and savings products with Axa Sun Life have discovered their cash is stuck in a "zombie" fund, reports suggest.

Aviva has extended the time about 21,500 policyholders have to accept a special payment.

One in four Aviva with-profits policyholders are unhappy with its proposed reattribution offer, a survey had revealed.

Aviva has cut the regular and final bonus rates on its with-profit funds as the market downturn continues to hit the insurer.

A majority of with-profits investors are unhappy with the performance of their fund, and more than one million say they will not invest in with-profits again, according to Managing Partners Limited (MPL).

FSA proposals which would allow old mis-selling costs to be paid for out of with-profits policyholders funds were branded "a backward step" today, just three days before the end of a consultation on the plans.

Prudential UK's total sales (APE) in the first quarter of 2009 were £180m, down 6% on the same period in 2008, in the face of 'extremely difficult and volatile market conditions'.

Norwich Union is to withdraw its inflation guarantee option for its with-profits investment bond.

Advisers have hit back at consumer champion Which? after it accused them of failing clients invested in with-profits funds by taking ongoing commission without providing additional advice.

The FSA should crack down on the "money for nothing" culture of financial advisers who receive ongoing commissions on with-profits investments, according to Which?, the consumer organisation.