The real difference ProfitShare can make

Published  16 March 2023
   4 min read

We're sharing £155 million with around 2 million customers in April.

Earlier this month, we announced our 2023 ProfitShare award. We're proud to be sharing £155 million with qualifying customers.

Awarding ProfitShare for the seventh year running

It's important we strike the right balance between investing in our business, maintaining our robust financial position and the level of any ProfitShare award. We believe taking this approach helps advisers and their clients have confidence in us to make the right decisions.

Everything we do is for the long-term benefit of our customers and our business. We made our first ProfitShare award in April 2017, and we’re delighted to have boosted customers’ pension savings every year since - sharing a total of over £1 billion of our profits. 

  2023 2022 2021 2020 2019 2018 2017
ProfitShare award1 £155m £169m £146m £140m £150m £142m £114m
ProfitShare rate 0.15% 0.15% 0.15% 0.15% 0.18% 0.18% 0.18%

1The ProfitShare amounts shown include awards made to with profits customers. These customers received a 1.2% enhancement in 2023. 

Remember that ProfitShare isn’t guaranteed. Your clients could get more or less than this. However, once we’ve awarded ProfitShare, we’ll never ask for it back.

Read our leaflet to find out more about ProfitShare and how it works.


ProfitShare and mutuality

Today all financial organisations in the UK fall into two main groups – public limited companies (PLCs) and mutuals. Founded 1861, we are the UK’s largest mutual life, pensions and investment company.

We’re a different kind of financial services company because unlike our main competitors, we don't have shareholders. Instead, we're owned by our members. And as a purpose-driven modern mutual, we believe we can help our customers and wider society protect today and invest in tomorrow.

ProfitShare is just one of the ways we express our mutuality and we do it because we want our customers to feel the benefit of being with us.

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