Working for our members
As we are a mutual, our 1.2 million members own our business.
Working for our members
Our mutual status ensures members are able to actively engage with us and feel confident that their feedback is valued. We listened to our members and over the course of 2017, we pursued a number of initiatives to benefit them and their communities, including the re-launch of the Royal London Foundation and the new Insight into Work programme. Visit our members' microsite here.
Insight into Work
The Insight into Work programme opens the doors of Royal London to members and their direct families.
The work placements allow members to nominate themselves or a direct family member for a one to two-week voluntary experience or four-week work paid experience. It is aimed at those leaving school or university, and anyone considering a career change or wanting to return to work after a long break.
In 2017, there were 10 successful placements across various teams within Royal London. In 2018, we are aiming to host 24 placements across a wide range of teams, including within our Consumer division, Group Operations, Finance and HR teams.
Members qualify for our ProfitShare scheme, a programme that means when we do well, so do you.
We allocate a discretionary part of the Group’s profits annually to eligible policies. This is paid into your savings products, boosting the value of your savings. You can read more about this in our Chief Executive’s statement. We’re proud that we have allocated £792m since 2007. The online Member Update is a hub of useful information, helping members to get the most out of their membership and their Royal London products. It features a range of content, from useful articles to engaging videos and animations.
The Royal London Foundation helps members support local organisations that make a difference in your communities.
The Royal London Foundation was established in 2011 to mark our 150th anniversary. We launched the Foundation to give donations to community groups that were nominated by our members. In this way, we support the often unsung heroes whose work makes such a big difference to some of the most vulnerable people in our communities.
We re-launched the Royal London Foundation in 2017 after engaging members in a review. You told us that you want to support smaller, local causes, and so when we re-launched, we did so with our partner UK Community Foundations (UKCF) to identify examples of organisations around the country.
Case study: 4 Winds, Cardiff
4 Winds is a user-led, open-access mental health resource helping people work towards recovery. ‘J’ was struggling – and had negative experiences of other support services, but 4 Winds opened up a whole new world for him, where he began to see hope and opportunity. This increased his confidence and he is becoming an ‘involvement champion’ for 4 Winds.
Case study: The Open Door
The Open Door supports vulnerable people in Morningside, Edinburgh, by providing friendship, inclusion, practical support – or just a cup of tea and a chat. Before she found The Open Door, Doreen was living alone, struggling to prepare meals and dress herself, and feeling increasingly alone. The Open Door referred her to an advocacy organisation that helped her move to a sheltered housing complex with social activities and friendly neighbours. A volunteer rings her up every evening to make sure she is doing well and feeling loved and supported.
Could £5,000 help your organisation?
The Royal London Foundation offers an award of £5,000 to support the core work of community groups nominated by members. In 2017, our aim was to award at least £100,000 and we are proud that we awarded £185,000 over the course of the year.