So when we do well, we'll aim to boost their retirement savings by adding a share of our profits to their plan each year. We call this ProfitShare.
We'll review our financial strength and performance at the end of each year.
We'll work out if ProfitShare can be awarded.
We'll add the award to
a separate ProfitShare account within
Customers can see the value of their ProfitShare account in their yearly statement, by logging into online service or by downloading our mobile app.
Customers can take the value of their ProfitShare account with the rest of their retirement savings any time after age 55.
Here you'll find the most common questions we're asked about ProfitShare.
For the last four years, we've increased the retirement savings of our unit-linked pension customers between 0.15% and 0.18% each year. Customers could get more or less than this and there's no guarantee that we'll be able to award ProfitShare every year. But once we've awarded ProfitShare, we'll never take it away.
ProfitShare awards will be given on 1 April each year. In order to be eligible, the customer's plan must have been in force on 31 December the previous year and on the date the award is given.
ProfitShare awards will be invested in the same investments as the customer's other retirement savings.
Customers will see the value of their ProfitShare account in their yearly statement, by logging into online service or by downloading our mobile app.