Despite a difficult economy, Police Mutual (PMAS) payouts hold up
With interest rates still at all-time low levels, wider spending
cuts in the public sector and other economic pressures, Police
Mutual (PMAS) is pleased to confirm that payouts to its members
exceeded £130 million in 2010. The current net annualised return
for Police Mutual Regular Savings policies is 3.2%*, compared to
basic interest rates of 0.5%**.
Police Mutual is the UK's largest affinity friendly society,
serving officers and staff of the UK police service and their
family members. In 2010, over 26,000 members of the Police Family
started a savings plan with Police Mutual. Savers can choose from a
number of options, including the Police Mutual with-profits fund
which smoothes out unpredictable investment returns.
Police Mutual Chief Executive Officer, Stephen Mann said "At a
time of financial uncertainty for many people, Police Mutual is
able to provide a reliable and stable home for our members' savings
and investments. This combination of security and returns continues
to be an important part of what we offer our members, together with
some of the lowest costs in the industry. As a mutual, we have also
increased our focus in seeking to help members and the police
service through financial insight, education and support."
* Our payout is based on a 30 year old male investing over ten
years, paying £5 per week, with payout in January 2011.
** Bank of England base rate 0.5% since March 2009.
Ends
For more information please contact:
Jo Cardwell
Corporate Communications
Police
Mutual Group
T: 01543 305323
E: press.office@pmas.co.uk
Notes to
editors
Police Mutual Assurance Society
Police Mutual was founded in 1922 to provide welfare and
financial support for police officers.
It is the UK's largest affinity friendly society with almost
£1bn funds under management and has around 220,000 policyholders
among serving and retired police officers, staff and their family
members.
Police Mutual is owned by, and run by, members of the police
service. Its Committee of Management includes representation
from all police ranks to ensure that decisions reflect the needs of
the service as a whole.