skip to main content
*** We hosted our Full Year 2024 Results presentation on 19th March 2025. click here to view online
Contact
Our websites
United Kingdom
Close Americas

Go to

12 March 2025

M&G Enters Fixed Term Annuity Market Powered by £129 billion With-Profits Fund

2025
M&G Plc (“M&G”) today announces that it is entering the fixed term annuity market with the Prudential Guaranteed Income Plan, powered by its £129 billion With-Profits Fund.

M&G’s new retirement solution provides certainty for customers wanting a guaranteed income for a fixed term between five to 15 years, with a minimum lumpsum investment of £10,000. In addition to guaranteed returns that aim to be competitive compared to conventional fixed term annuities, there is the added benefit that if investment conditions are better than expected, customers will receive a modest bonus on top of their guaranteed income. This is made possible due to the unique structure of the With-Profits Fund, its scale and capital strength as well as the ability to invest across asset classes, including private markets, in many cases utilising the investment expertise within the Group’s wider asset management business.

By entering the fixed term annuity market, M&G is expanding its offer for advisers who will have greater access to a blended product suite to create tailored retirement income solutions for clients. Available as a trustee investment within Self-Invested Personal Pension schemes (SIPP), the Prudential Guaranteed Income Plan enables advisers to blend a guaranteed income solution with growth assets, such as PruFund, in a bespoke pension portfolio designed to meet an individual customer’s needs.

M&G is soft-launching the product with a small number of advisers before making it widely available in the UK retail market in the second half of 2025.

Anusha Mittal, Managing Director, Individual Life and Pensions, at M&G, said: “The launch of our new insurance product in the UK retail market shows how M&G is expanding its suite of blended retirement solutions. We are responding to customers who are seeking peace of mind, knowing that, no matter what the markets do, their income won’t change. They are looking for flexibility and security so that they may maintain their lifestyles, pursue hobbies or perhaps reduce working hours, without having to commit to an annuity for life, thereby keeping future financial planning options open to them.”

“The Prudential Guaranteed Income Plan is powered by our 177-year-old With-Profits Fund, of which PruFund is a part. It will provide advisers with the opportunity to offer a blend of PruFund for growth and more discretionary income needs alongside Prudential Guaranteed Income Plan for more essential income needs. Blending products in this way is increasingly important in creating tailored retirement solutions for customers’ specific needs and risk preferences.”

Further product information will be provided to advisers in the coming months ahead of its wider launch.

Media enquiries

Louise Bryans

M&G Media Relations

Irene Chambers

Media Relations

Notes to editors

Further product information will be made available to advisers in the next few months and further information will then be accessible on our website.

 


About M&G plc M&G plc is a leading international savings and investments business, managing money for around 4.6 million retail clients and more than 900 institutional clients in 38 offices worldwide. As at 30 June 2024, we had £346.1 billion of assets under management and administration. With a heritage dating back more than 170 years, M&G plc has a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions. We serve our retail and savings clients under the M&G and Prudential brands in the UK and Europe, and under the M&G Investments brand for asset management clients globally.
Investor relations

The information in this section of the site is intended for investment professionals only.

This section of the website is for the sole use of investment professionals. It should not be relied on by private investors and the information should not be construed as a financial promotion under the Financial Conduct Authority’s (FCA) Conduct of Business rules.

Press Releases
The information in this section of the site is intended for journalists and media professionals only.

This section of the website is for the sole use of journalists and media professionals. It should not be relied on by private investors or advisers and the information should not be construed as a financial promotion under the Financial Conduct Authority’s (FCA) Conduct of Business rules.
M&G Investments

You are about to enter the website of M&G Investments, a direct subsidiary of M&G plc.
Click here to proceed.

M&G plc, incorporated and registered in England and Wales. Registered office: 10 Fenchurch Avenue, London EC3M 5AG. Registered number 11444019. M&G plc is a holding company, some of whose subsidiaries are authorised and regulated, as applicable, by the Prudential Regulation Authority and the Financial Conduct Authority.

M&G plc is a company incorporated and with its principal place of business in England, and its affiliated companies constitute a leading savings and investments business. M&G plc is the direct parent company of The Prudential Assurance Company Limited. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in England and Wales.

M&G Investments

You are about to enter the website of M&G Investments, a direct subsidiary of M&G plc.
Click here to proceed.

M&G plcの直接子会社であるM&G Investments(M&Gインベストメント)のウェブサイトにアクセスするには、
こちらをクリックしてください。

M&G plc, incorporated and registered in England and Wales. Registered office: 10 Fenchurch Avenue, London EC3M 5AG. Registered number 11444019. M&G plc is a holding company, some of whose subsidiaries are authorised and regulated, as applicable, by the Prudential Regulation Authority and the Financial Conduct Authority.

M&G plc is a company incorporated and with its principal place of business in England, and its affiliated companies constitute a leading savings and investments business. M&G plc is the direct parent company of The Prudential Assurance Company Limited. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in England and Wales.

M&G plc は、イングランド及びウェールズで設立・登録。本社登録地は10 Fenchurch Avenue, London EC3M 5AG。登録番号11444019。M&G plcは持ち株会社で、その子会社の一部はPRA(健全性監督機構)及びFCA(金融行為規制機構) に認可され、それらの規制対象となっています。

M&G plc は、イングランドを登録地、及び主たる事業領域とする会社で、その関連会社は有数の貯蓄・投資機関として基盤を確立しています。M&G plcは、Prudential Assurance Company Limited(プルデンシャル・アシュアランス・カンパニー・リミテッド)の直接親会社です。なお、Prudential Assurance Company Limitedは、アメリカ合衆国を主たる事業領域とするPrudential Financial, Inc.(プルデンシャル・ファイナンシャルInc.)またはイングランド及びウェールズで設立された国際グループ企業であるPrudential plc(プルデンシャル・ピーエルシー)とは一切関係がありません。

Prudential Portfolio Managers (South Africa) (Pty) Limited

You are about to enter the website of MandG Investments Southern Africa (Pty) Ltd a direct subsidiary of M&G plc. Click here to proceed.

M&G plc, incorporated and registered in England and Wales. Registered office: 10 Fenchurch Avenue, London EC3M 5AG. Registered number 11444019. M&G plc is a holding company, some of whose subsidiaries are authorised and regulated, as applicable, by the Prudential Regulation Authority and the Financial Conduct Authority.

M&G plc is a company incorporated and with its principal place of business in England, and its affiliated companies constitute a leading savings and investments business. M&G plc is the direct parent company of The Prudential Assurance Company Limited. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in England and Wales.