PMAS Regular Savings
Product information
The PMAS Regular Savings plan is designed to
help you save an affordable amount each month, and after ten years,
you’ll get a guaranteed minimum payout.
Our regular savings plan is a with-profits
plan. We invest your payments along with those from other investors
in a range of investments through the with-profits fund. This
spreads the investment risk, which means you will always be
guaranteed a minimum payout – and may receive bonus payments
throughout and at the end of your term.
How to apply
Before applying, make sure you’ve read the
key features page. You’ll
need to have your bank details or payroll number to hand.
You can:
You may also have to provide details of your
medical history and your height/weight in metric measurements. If
you only know the imperial measures, use
our conversion calculator. We may also need
your GP’s details.
If there’s anything more you need to know, you
can read our frequently asked questions.
Make the most of Regular Savings
You can start more than one plan. Why not take
out lots of little plans set to end at regular intervals throughout
your career - and even into your retirement – and get regular cash
lump sums in the future.
Your last plan must expire before your 80th
birthday.
Bonus payments
In addition to your guaranteed minimum payout
your plan may earn regular bonuses. Once added, these are
guaranteed and cannot be reduced or taken away. A final bonus
may be paid when the plan reaches the end of its term. The value of
all bonuses depends on the performance of the fund.
To get the full benefit from the plan, it is
important to continue for the full term. If you cash in your plan
early you may get back less than you’ve paid in.
Life cover – protect your investment and your family
The plan contains life cover as standard - a
valuable safeguard for you, your family and your dependants. If you
die during the term of your plan, the guaranteed minimum payout
will be paid – with all added bonuses.
How you pay
The majority of forces can deduct payments
directly from your salary – you can see a list of them here.
If your force can’t deduct payments for you,
tick the ‘direct debit’ box on the application form and fill in
your bank details. Payments will be deducted on acceptance of your
application, and your certificate of membership will be sent to you
for safekeeping.
Tax
Your payout at the end of the term will be
free of any personal tax. We pay tax on the fund, so you won’t need
to. Current levels and bases of taxation may change.
Proving your identity
To comply with money laundering regulations,
we may carry out an on-line identity check with a reference agency
when you apply. The agency will add a note to your credit record to
show that an identity check has been made, but this information
will not be available to anyone else and will not affect your
credit rating.
You can find out more about why we need to
check your identity on the
Financial Services Authority website.