Personal Business COVID-19 Menu Log in Search Select Investment (Bond) With-profits investment Investing for the medium to long term The basics Investing in with-profits funds means investing in a combination of shares, bonds, property and money market investments. Growth can come in the form of regular and final bonuses from the profits the fund might make. See the latest bonus announcement Our with-profits investments With-profits policies are designed for the medium to long term, ideally at least 5 to 10 years. We pool your money with that of other customers in one of our with-profits funds and that money is invested in a mixture of shares, bonds, property and money market investments. The value of your with-profits investment can grow through the addition of yearly bonuses and, for most policies, there is the possibility of a 'final' bonus when your policy comes to an end. Bonuses are not guaranteed and bonus rates can go down as well as up. However, once added they can't be taken away. There is a risk that the value of your investment could go down as well as up and you may get back less than you invested. With profits investment returns are shared out as bonuses, of which there are two main types, regular (or annual) bonus and final (or terminal) bonus. Regular bonuses can be added to your policy each year (or more often). Many with-profits policies guarantee a minimum payout on specified dates or events and the addition of regular bonuses increases this minimum level of payout. A final bonus may be added when you decide to cash-in your policy or if you move out of with-profits by switching to another fund. A Market Value Reduction (MVR) can apply to some types of with-profits funds. An MVR is an adjustment factor that can be applied to those leaving a with-profits fund at times other than those specified in the contract. This ensures that those leaving the fund do not receive more than their fair share of the underlying investment, and therefore enables us to treat with-profits customers fairly. Find out more about how With-profits funds invest How we manage the funds To help you understand how we manage the with-profits fund in which you’re invested, we produce two types of guides. These guides can be downloaded from our With-profits useful guides page. There are technical guides called the Principles and Practices of Financial Management (PPFM) and there are simplified, more reader-friendly versions. Independent expertise and oversight We're committed to treating our customers fairly at all times. To support this, we have a With-profits Committee which brings independent expertise and oversight, to ensure fairness is fully considered in our with-profits decision making. Looking to apply? Learn more about how to start investing. Find out how to invest Select Investment articles Take a look at our latest news and guides. When do annuities make sense? Annuities can provide a stable income for your retirement, but they aren’t the only option. Find out if they’re the right choice for you. Make sense of it all Can't afford to retire If your pension pot is falling short of your ideal number, there are some things you can do to help. See how to fund your retirement How long will retirement be? It's difficult to know for definite. But there are things you can think about to help you plan more effectively. See how to plan for retirement Budgeting for retirement Four lifestyle changes to prevent your pension pot draining. See budgeting ideas Risks and rewards of investing Our guide to the pros and cons of different types of investments. Learn about investing Am I ready to invest? Our guide to getting started in the world of investments. Investing for beginners Product provided by: Aviva Life & Pensions UK Limited. Registered in England No. 3253947. Registered office: Aviva, Wellington Row, York, YO90 1WR. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Firm Reference Number: 185896. 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