Police Mutual increase payouts
Police Mutual (PMAS) has announced that this month it has
increased payouts on its regular savings plans for the second time
this year.
Members of Police Mutual who have been paying £25 a month over
ten years can expect a return of 4%pa on payouts after 1 May - a
further increase from the returns announced in January 2011, which
means that payouts are now 8% higher than in May 2010.
Despite the economic downturn in the UK, Police Mutual's prudent
approach to investment management means it is able to reward savers
with increased returns at a time when some companies are reducing
theirs. Police Mutual is in a position to do this thanks to a
strong financial performance in 2010.
Speaking at Police Mutual's AGM in early May, Finance Director
Ian Cordwell commented, 'Our continued focus on expenses means that
our costs are still the lowest of our peers. This is combined
with our improving investment returns made possible by our
strengthened capital position. Further work to enhance our
investment strategy using our capital strength and seeking
operational efficiencies will help support the ongoing
competitiveness of our payouts.
Our members tell us that our financial strength is a key factor
in their investment decisions and it is reassuring that our capital
strength provides a firm foundation to meet customer needs at a
time of rapid change for the police service.
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.