We’ve produced documents to let you know our principles of how we manage our with-profits policies. They also explain:

• how we put our principles into practice;
• how we invest your money in our with-profits policies; and
• how we add bonuses to your policy.

To view the Principles and Practices of Financial Management (PPFM) for Phoenix Life Limited, please follow this link.

Simplifying our business - transfer of policies to Phoenix Life Limited (Phoenix Life)

We are proposing to transfer all NPI Limited and certain National Provident Life Limited policies to Phoenix Life. More information about this transfer can be found here. If the transfer is approved, a revised version of Phoenix Life's PPFM will apply to the with-profits business. Click here to view the new draft PPFM which, subject to approval, is expected to take effect on 27 February 2012.

We’ve produced annual reports for our with-profits policyholders. They show you:

• how we managed our with-profits business during the last year, in line with our PPFM;
• what we’ve done to make sure we treat you fairly; and
• a statement from our With-Profits Actuary explaining how this fund has been managed.

We have produced separate reports for each of our with-profits funds. Our reports for 2010 are available below. Select the appropriate link for the report for the with-profits fund your policy is invested in. If you’re not sure which link you need you can contact us by following this link.

* Please note that all Phoenix & London Assurance Limited (PALAL) policies transferred to Phoenix Life Limited on 21 February 2011. The 2010 report is the last one produced for the PALAL With-Profits Fund. From 2011 onwards, former PALAL With-Profits policyholders should refer to annual report for the Phoenix Life Limited - SAL With-Profits Fund, into which their policy transferred on 21 February 2011.