What makes you a member of Royal London?
Many of our customers are also members of the company.
As of 1 January 2016, customers who take out a pension plan with us will become a member. But for occupational schemes, it's the scheme trustees who qualify for membership – not the individual scheme members. Some eligible With Profits customers will also get membership as part of their policy with us.
How many members are there?
We have around 1.6 million members (as of 31 December 2019).
What do you get as a member?
There are a number of benefits to being a member of Royal London. Most importantly, you get a say in how our company is run (read more about this below), but you also have the chance to enter exclusive competitions and take part in our Royal London Foundation and Insight into Work programmes. Finally, we aim to boost eligible members’ retirement savings each year through our ProfitShare scheme.
How do members have a say in how the company is run?
We’re a mutual, so all of our members are owners of Royal London. As an owner, you’re entitled to have an opinion on company decisions and appointments by voting at our AGM. You can also ask us questions about how the business is run.
Visit our AGM and voting page to find out more.
How does Royal London keep in touch with members?
We keep you updated through your quarterly member emails. These include lots of content designed to help you make good financial decisions and show how we manage your money, along with the latest Royal London insights, and information about your membership benefits. We've also launched a new monthly podcast series called 'The penny drops', which is designed to help you better understand your money and other financial topics. You can find the podcast on apps such as iTunes, Spotify, Google Podcasts, PodBean and Castbox.
Please keep in mind that the information we provide is just guidance, and we’d always encourage you to seek professional financial advice if you need help.
Each year, we also send members an information pack for our upcoming AGM. We'll let you know how we're doing, the things we've achieved over the past year and how you can vote on important business issues at the AGM.