Stacked purple sweets

As a mutual, we think our members should share in our success. That’s why, when we do well, we’ll aim to boost your retirement savings. We call this ProfitShare.

Everyone likes a little boost

ProfitShare awards will be applied in April each year, as long as your plan was in force on 31 December the previous year and on the date the award is given. Awards will be based on the value of the retirement savings you've invested with us on the date they’re awarded.

In good years, we’ll aim to give between 0.15–0.25% of the value of your retirement savings invested with us. This is on top of any investment growth. We can’t predict the future – so you could get more or less than this. Likewise, we can’t guarantee you’ll get a ProfitShare award every year.

Sharing our success

After a successful performance in 2018, we were able to share our success with members once again last year.

  • We shared £150m with our members and customers in April 2019.
  • It's an increase of 6% compared to the previous year.
  • This resulted in an uplift of 1.4% to the value of eligible With-Profits policies and 0.18% to the value of unit-linked policies.

Watch our animation to find out how ProfitShare works and the difference it could make to your retirement savings.

CAPTION: Everyone likes a little boost.

How ProfitShare works for unit-linked customers.

NARRATOR: We know everyone likes a little boost, so being a mutual we aim to give your retirement savings an extra boost by adding a share of our profits to your plan each year. We call it ProfitShare and it’s just one way our customers share in our success.

Let’s take a look at how it works.

  1. Each year, we’ll review our financial strength. We’ll decide if ProfitShare can be awarded.
  2. You’ll qualify as long as your plan was in force at any time during the year and remains in force on the 1st of April the following year.
  3. We’ll let you know what your reward will be and we’ll add it to a separate account within your plan in April.
  4. Your ProfitShare award will be based on the value of your plan at the date of your award. And will be invested in the same investment choice as your other retirement savings to help it grow. Over time, this will help boost your retirement savings. But you should remember investments can go down as well as up and there’s no guarantee we’ll be able to award ProfitShare every year.
  5. You’ll see the value of your ProfitShare account, every year on your statement and you can take the value of your ProfitShare, along with the rest of your retirement savings, any time after age 55.

To find out more about ProfitShare and whether you qualify visit or ask your financial adviser.

CAPTION: Thank you for watching.

Find out more

You can find more information on our ProfitShare page, from how it's calculated to who qualifies, and what to expect in the future.