Oct 07, 2015
Royal London are a mutual, and owned by their customers. And they now believe all customers should share in their success.
So from 1 January 2016, Royal London aim to boost their clients retirement savings by adding a share of their profits to their pension plan each year.
They have called this ProfitShare - and it's available exclusively from Royal London.
A mutual benefit
The with profits customers already benefit from ProfitShare. Now they are extending it to:
These customers should receive their first ProfitShare award in April 2017.
they aim to award between 0.15% - 0.25% of the value of the customer's plan each year. They could get more or less than this and awards can't be guaranteed.
To make sure their with profits customers feel an extra benefit too, we'll increase the regular bonus they receive by the same rate.
Sharing the news
They will be writing to all of their with profits customers to let them know what's happening.
Next month November 2015, they willl begin writing to all their customers who are now eligible for ProfitShare.