Closed products that are still working for you

From time to time, we close some of our products to new applicants. Don’t worry if you hold one, we still actively manage them and will keep you up to date with their performance.
  • If you hold a savings or investment product with us, we’ll send you updates and will let you know if your plan is approaching a guarantee point
  • If you have a life cover product with us, we’ll contact you if the cover period is coming to an end

Which closed products do we still manage?

  • Closure Date: 30 September 2018

    The product was available to those under the age of 16 to provide a guaranteed cash lump sum at the end of the payment term for the child.

    Regular payments of either £12.50 or £25 per month are made for the length of the plan.

    The plan runs for a minimum of 10 years or until the next anniversary date after the child’s 16th birthday, whichever is the longer.

    The money is invested in our Life Fund and there is potential for bonuses to be added, depending on the performance of the investments.

    When the child reaches the age of 16 all correspondence will be sent to the child.

  • Closure Date: 3 January 2011 (except for transfers)

    We previously wrote to all our existing members and customers to inform them about the proposed transfer to Royal London, which will provide a sustainable future for Police Mutual.

    Providing all the relevant approvals for the transfer are obtained, as of 1st October 2020, our Child Trust Funds will be managed by The Royal London Mutual Insurance Society Limited, 55 Gracechurch Street, London, EC3V 0RL Registration number: CTF9900.

    Our customers will retain their existing policy number and can continue to make payments in the same way.

    We will be emailing customers in October to update them further on the transfer and to confirm that their Child Trust Fund is now under a new manager.

    If you have any questions in the meantime, please send us a message via the secure message centre and a member of our customer services team will be back in touch.

    If you do not have access to the secure message centre you can call us on 01543 441 630, Mon-Fri 8.30am-5.30pm.

    Child Trust Funds are long-term saving plans for children born before 3 January 2011. Only transfers to our Stakeholder Child Trust Fund can now be made. These documents provide more information: Key Information Document and Terms and Conditions.

    Existing policyholders can continue to make lump sum, regular payments or both. There is no minimum payment amount and the maximum is up to the annual limits.

  • Closure Date: 31 December 2006

    This plan is designed to help you repay an interest-only mortgage.

    You invest a regular, fixed amount into our Life Fund for a term of between 10 and 30 years. In return we guarantee to pay you a lump sum at the end of the term or if you die before the end of the term. The guarantee is equal to your mortgage when you took out the plan. We may also add bonuses to reflect investment performance over the period.

    We’ll contact you shortly before the end of the term to let you know the value and explain your options.

    If you increase your mortgage, you’ll need to consider how you’ll repay the additional amount.

    You can stop saving at any time and take the surrender value. If you do so, you may not get back what you put in. There may be tax to pay, depending on if you need to pay higher rate tax. A 5% deduction is no longer applied to the surrender value from 1 October 2020.

  • Closure Date: 31 December 2017

    You invest a lump sum into our Life Fund. In return we guarantee to pay you a lump sum of at least the amount you invested (less any earlier withdrawals you make) on the fifth and every subsequent fifth anniversary of investment.

    There’s no term – you get a new guarantee every five years with the opportunity to lock in any growth. We’ll contact you shortly before a guarantee point to let you know the value and explain your options.

    You can also withdraw some or all of your savings at any time between the guarantee points – if you do so the value of your guarantees will reduce and you may not get back what you put in.

    We’ll pay out a lump sum on death during the time you hold the plan of either the guaranteed amount or 101% of the current value, whichever is highest.

  • Closure Date: 5 April 2016.

    We previously wrote to all our existing members and customers to inform them about the proposed transfer to Royal London, which will provide a sustainable future for Police Mutual.

    Providing all the relevant approvals for the transfer are obtained, as of 1st October 2020, our ISAs will be managed by The Royal London Mutual Insurance Society Limited, 55 Gracechurch Street, London, EC3V 0RL Registration number: Z2038.

    Our customers will retain their existing policy number and can continue to make payments in the same way.

    We will be emailing customers in October to update them further on the transfer and to confirm that their ISA is now under a new manager.

    If you have any questions in the meantime, please send us a message via the secure message centre and a member of our customer services team will be back in touch.

    If you do not have access to the secure message centre you can call us on 01543 441 630, Mon-Fri 8.30am-5.30pm.

    You invest into our Life Fund, adding new money up to your Annual ISA Allowance and transferring in any ISAs you have elsewhere. You can do this by phone or post.

    In return we guarantee to pay you a lump sum of at least the amount you invest in a tax year (less any earlier withdrawals you make) in five years’ time on the 6 April.

    There’s no term - you can get a new guarantee every five years with the opportunity to lock in any growth. We’ll contact you shortly before a guarantee point to let you know the value and explain your options.

    You can also withdraw or transfer out some or all of your savings at any time between the guarantee points – if you do so the value of your guarantees will reduce and you may not get back what you put in. There’s no tax to pay at any time.

    If you die, we’ll pay a lump sum of at least 101% of the guaranteed value of the plan.


    Existing policyholders

    Existing policyholders can continue to invest each tax year up to the annual ISA allowance. The minimum lump sum amount is £1,000. Regular payments can be increased, reduced, started or stopped at any time, with a minimum of £40 per month.

    If you would like to top up your existing Guaranteed ISA, please contact us.


    Past Performance

    The table below shows the value of a Guaranteed ISA invested on 1 July 2015 to 1 July 2020. It shows the value that the member could have received if they were to withdraw all of their investment on the specified date.

    Date

    Police Mutual Guaranteed ISA

    % in period

    01/07/2015

    £13,000

    -

    01/07/2016

    £12,242

    -5.8%

    01/07/2017

    £13,396

    9.4%

    01/07/2018

    £14,227

    6.2%

    01/07/2019

    £13,971

    -1.8%

    01/07/2020

    £13,985

    0.1%

    Total Gains

    £985

    7.6%


    Example based on £13,000 initial investment on 1 July 2015 and assumes no withdrawals are made.

    You should remember past performance is no indication of future performance and should not be the reason for choosing a product.

    If you access your money in our Guaranteed ISA at any time other than on the guarantee points, you'll get back the current value ‐ which may be less than you invested. The guarantee points are every five years.

    • Investment of £13,000 based on ISA transfer.
    • Performance figures take into account all charges (including the initial charge) which applied during the period. Charges may vary.
    • Guaranteed ISA performance figures are taken from Police Mutual internal figures.
    • The performance of your own investment will depend on how much you invest, our charges and our investment performance.
    • The value of tax benefits depends on your individual circumstances and tax rates or legislation which could change in the future.
    • Our Guaranteed ISA is a Stocks and Shares ISA.
  • Wiltshire Police Federation Healthcare Scheme

    The Wiltshire Police Federation Healthcare Scheme was acquired by Police Mutual on 1 July 2014. All membership was transferred to the current Police Mutual healthcare scheme and is now administered by its rules.

     

    No.1 Healthcare Scheme

    Closure Date: January 2014

    The No.1 Healthcare Scheme is a discretionary scheme. All the members pay in to the Scheme to provide cover when it's needed for each other. It's discretionary because each case is looked at on an individual basis to see what help is right for that member. To make sure decisions are fair, the Scheme has Rules that guide which treatments are covered and what's not. But unlike private medical insurance, there are no 'hidden' extras or payments for 'extra' cover. Just one simple price for each member.

    It is important that you call the healthcare team on 01543 441 630 before you receive any medical treatment you think you may need to claim for.

    For more information please read the Scheme Rules and Scheme Guide

     

    PHS Ring Fenced Scheme

    Closure Date: May 2013

    For more information please read the Scheme Rules and Scheme Written Resolution

  • Closure Date: 00.00 on 4 April 2020

    Between February 2019 and April 2020, Police Mutual introduced Legal & General’s Life Insurance, Decreasing Life Insurance and Critical Illness Cover products.

    These products are designed to meet the demands and needs of people who want to help protect against the impact of death, terminal illness or critical illness. They can be used to help pay an outstanding mortgage or to help protect a family’s lifestyle and everyday living expenses. You will find full details of what is covered in the Policy Booklet provided to you when you took out your policy.

    If you are eligible for an e-Gift card this will be administered by Legal & General six months after your policy start date, provided you haven’t cancelled your policy and your payments are fully up to date.

    For any queries relating to your policy, or to make a claim, please contact Legal & General on 0370 060 0015.

  • Closure Date: 31 March 2005/30 April 1998

    These plans are designed to help you repay an interest-only mortgage.

    You invest a regular, fixed amount into our Life Fund for a term of between 10 and 30 years. In return we guarantee to pay you a lump sum at the end of the term. We may also add bonuses to reflect investment performance over the period.

    At the outset you select a target amount which is usually equal to your mortgage. The ‘low cost’ guarantee is less than your target amount that you set when you took out the plan. This means investment performance is very important to your plan being able to help you reach your target amount. The Minimum Low Cost Endowment has a lower guarantee than the Low Cost Endowment.

    Every year, with your performance update, we’ll highlight using a colour code whether your plan is currently on target to reach your target amount. The colours are red (not on target), amber (may not be on target) and green (on target). If you die, we’ll pay a lump sum of at least your original target amount.

    We’ll contact you shortly before the end of the term to let you know the value and explain your options.

    If you increase your mortgage, you’ll need to consider how you’ll repay the additional amount.

    You can stop saving at any time and take the surrender value – if you do so, you may not get back what you put in. There may be tax to pay - it depends on when you cash in and if you need to pay higher rate tax. A 5% deduction is no longer applied to the surrender value from 1 October 2020.

    For more information please read the following FAQs:

    How is the Police Mutual Life Fund performing?
    The investment return on our Life Fund is the single biggest thing that affects the returns you get on your savings. Our investment return before tax on the Life Fund over the last 5 years can be found in our quarterly performance update. You can read this online here.

    What do the red, amber and green ratings mean?
    If you’re using an endowment plan to pay off your mortgage, we provide you with regular statements and accompanying letters which are colour-coded to help you review whether your plan is on track to repay your mortgage. These colour-coded ratings are linked to the projected growth rates we use to estimate what your plan could be worth when it matures:

    Red means there’s a high risk that your plan won't pay out enough to cover your target amount, and that you should consider taking action to make sure you’ll be able to repay the whole of your mortgage
    Amber means there’s a significant risk that your plan won't pay enough to cover your target amount, We strongly suggest you consider taking action to make sure you’ll be able to repay the whole of your mortgage loan
    Green means it’s currently on track to repay your target amount. However, this is not guaranteed and could change in the future.
    Low Cost Endowment mortgage plans invest in the Police Mutual Life Fund. This fund is invested in a mix of equities, bonds, property, commodities and cash, and these can vary in value. So it’s a good idea to check your statement carefully each year, even if your plan has been on track so far. Please bear in mind that the projections we send you are no guarantee of what you’ll receive when your plan matures – you may get back more or less than the amounts estimated in your statement.

    If you’ve told us that you’re no longer using your plan to pay off your mortgage, we won’t send you a colour-coded rating letter – just a yearly statement.

    Do you need to know if my plan is assigned to a mortgage lender?
    Yes. Please let us know any assignment changes by phoning our Customer Relationship Centre on 01543 441 630. Assignment means that when your plan becomes payable, we’ll pay the plan proceeds direct to the assigned third party, typically this is the lender who has provided you with your mortgage. So we need to make sure our records are up to date. On your yearly statement you’ll see the assignment details we currently have for you - if these have changed, please get a notice of reassignment from the new third party and send a copy to us so that we can update our records.

    Do you need to know if I'm no longer planning to use my plan to pay off a mortgage?
    Yes - if the purpose of your plan has changed, please let us know. This will allow us to tailor the information we send to you. We’ll continue to send you a yearly statement, but stop sending you a colour-coded risk warning or Money Advice Service mortgage endowment leaflets.

    What happened to the money made in good investment years? Surely the with-profits smoothing effect should cope with market falls?
    It’s true that the aim of a with-profits fund is to smooth out some of the short-term highs and lows over the period of time that you hold the plan. This means maturity payouts will be steadier year on year because we're able to use some of the investment growth made in years when the fund performs well to top up bonuses in years when economic conditions aren’t so good. However, there may be times when smoothing can't fully protect your investment. This can happen following a significant or sustained fall in the stock market or when investment returns are below the level we normally expect. In these circumstances, your plan’s value may suffer.

    Is Police Mutual financially sound?
    Yes. Police Mutual is not immune to market conditions, but we are well positioned to safeguard your interests. Our diversified investment strategy aims to control risks by avoiding overexposure to specific markets. We’ve carefully considered the proportion of our Life Fund's assets invested in more volatile markets such as equities so as to balance higher expected long-term returns against the risk of a setback in the market and we’re always alert to the possibility of another downturn in the markets.

    Should I surrender my plan early?
    With-profits plans, like your Police Mutual Low Cost Endowment mortgage plan, are long-term contracts. This means they’re designed to give the best returns when they mature, not if they’re cashed in early. Cashing in before the end of the term may not be in your best interest and remember you will also lose the life cover included in your plan, which may be more expensive to replace as you get older.

    If you do choose to surrender your plan early, we’ll calculate its cash-in value at the time. The amount you receive will depend on the investment return and the amount you’ve paid in, taking into account our charges, expenses, tax, our smoothing policy and the cost of life cover. A 5% deduction will apply if you cash in your plan early.

    We know that in certain situations it may be tempting to cash your plan in early, or stop making payments – particularly if money is tight. We strongly recommend that you call us on our helpline on 01543 441 630 or talk to your financial adviser before you decide to surrender, as you may end up losing out financially. If you don’t have a financial adviser, you can find details of advisers in your area at www.unbiased.co.uk

    How do you calculate the projected value of my plan?
    The projected values contained in your statements that we send you are made up of your plan’s Guaranteed Value (the minimum you are guaranteed to receive at the end of its term) and a projected final bonus.

    We work out the projected final bonuses by comparing the Guaranteed Value at the end of the term to what the underlying value of a plan may be worth when it matures – So, if the plan’s underlying value is greater than the Guaranteed Value, we aim to pay out the extra amount in the form of a final bonus, the amount of which will vary.

    If the underlying value of a plan is less than its Guaranteed Value we can’t pay out a final bonus, but you will always be paid the Guaranteed Value as a minimum.

    If your statement shows the same values for some or all of the projection rates, this is because the underlying value has been calculated as being lower than your Guaranteed Value, therefore we have shown your Guaranteed Value instead of the underlying plan value, because in reality, this is what would be paid.

    Please bear in mind that the projected amounts aren’t guaranteed – they’re just intended to give you an idea of what your plan might be worth assuming these different rates of growth. We won’t know what your plan’s final value will be until the end of its term, because we don’t know what investment returns will actually be in the meantime, however, we do regularly review the rates we use to make sure they are as realistic as possible.

    Are the projection rates realistic?
    Yes. Standard maximum growth rates are set by our regulator, the FCA, to use in these instances. We are required to review these, taking into account where the Life Fund (the fund in which your money is invested) invests, to ensure that our members are provided with a realistic estimate of what their plans could be worth when they mature at the end of the term. We regularly review the rates we apply to make sure they remain relevant to the likely performance of the Life Fund.

    My projection is green. Do I need to worry?
    Green means that your target amount will be achieved if our investments continue to grow at a reasonable rate. It means that your plan is currently on track to pay off your mortgage, but this may change in the future. A green letter is no guarantee that your plan will pay off your mortgage when it matures at the end of the term

    I have a projected shortfall. What are my options?
    You can make up a shortfall in a number of different ways. You'll find these explained in detail in the online Money Advice Service guide.

  • Closure Date: 31 December 2011

    You invest a regular, fixed amount into our Life Fund for 10 years. In return we guarantee to pay you a lump sum at the end of the term or twice that amount if you die before the end of the term. Your guarantee may be more or less than you invest depending on your age when you started your plan. We may also add bonuses to reflect investment performance over the period.

    We’ll contact you shortly before the end of the term to let you know the value and explain your options.

    You can stop saving at any time and take the surrender value – if you do so, you may not get back what you put in. There may be tax to pay – it depends if you need to pay higher rate tax. A 5% deduction is no longer applied to the surrender value from 1 October 2020.

  • Closure Date: 17 August 2020.

    We previously wrote to all our existing members and customers to inform them about the proposed transfer to Royal London, which will provide a sustainable future for Police Mutual.

    Providing all the relevant approvals for the transfer are obtained, as of 1st October 2020, our ISAs will be managed by The Royal London Mutual Insurance Society Limited, 55 Gracechurch Street, London, EC3V 0RL Registration number: Z2038.

    Our customers will retain their existing policy number and can continue to make payments in the same way.

    We will be emailing customers in October to update them further on the transfer and to confirm that their ISA is now under a new manager.

    If you have any questions in the meantime, please send us a message via the secure message centre and a member of our customer services team will be back in touch.

    If you do not have access to the secure message centre you can call us on 01543 441 630, Mon-Fri 8.30am-5.30pm.

    Our Options ISA is all about flexibility, with four investment options (Anytime Access, Non Guaranteed, Protected Growth and Fixed Term) to help get the most from your tax-free savings allowance. Pick just one option or split your money across the ones you choose, with this flexible way to save that puts you in control.

    • A stocks and shares ISA that gives you three different, tax-efficient investment options
    • Choose the options that meet your needs, from total security to accepting some risk for a potentially better return

    Read more about the four investment options:

    Anytime Access

    • Perfect for all members of the Police family who want to keep their money safe and secure, with a money-back guarantee
    • A good option if you want to save over a shorter period of time
    • Open with just a £40 initial lump sum or regular payments of £40 every month
    • Growth potential is low so keep in mind that inflation will reduce what you could buy with your payout.
    • Charges apply for this product, please see our Key Features Document

    The value of tax benefits depends on your individual circumstances and tax rates or legislation which could change in the future.

    Non Guaranteed

    • The option with potentially higher returns but, unlike our other options, there are no guarantees
    • You’re not required to invest for any set timescale, but this is a good choice for those looking to save over a longer period
    • Open with just a £100 initial lump sum or regular payments of £40 every month
    • The growth of your savings in this option will depend on the investment performance of our Life Fund
    • Charges apply for this product, please see our Key Information Document
    • Terms and conditions apply

    The value of tax benefits depends on your individual circumstances and tax rates or legislation which could change in the future.

    With the Non Guaranteed option, your money can go down as well as up and you may get back less than you put in when you withdraw your savings.


    Non Guaranteed Past Performance

    The table below shows the value of an Option ISA - Non Guaranteed option invested on 1 July 2015 to 1 July 2020. It shows the value that the member could have received if they were to withdraw all of their investment on the specified date.

    Date Police Mutual Non Guaranteed % in period
    01/07/2015 £13,000 -
    01/07/2016 £12,557 -3.4%
    01/07/2017 £13,770 9.7%
    01/07/2018 £14,593 6.0%
    01/07/2019 £14,359 -1.6%
    01/07/2020 £14,341 -0.1%
    Total gains £1,341 10.3%

    Example based on Police Mutual simulated past performance figures due to product launching in November 2015. You should remember past performance is no indication of future performance and should not be the reason for choosing a product.

    Your investment can go up and down and you may get back less than you put in when you withdraw your investment.

    • Example based on a £13,000 initial investment on 1 July 2015 and assumes no withdrawals are made.
    • Investment of £13,000 based on ISA transfer.
    • Performance figures take into account all charges which applied during the period. Charges may vary.
    • The performance of your own investment will depend on how much you invest, our charges and our investment performance.
    • The value of tax benefits depends on your individual circumstances and tax rates or legislation which could change in the future.

    Protected Growth

    • A good choice for those who want to save a lump sum over five years or more, with guaranteed protection*
    • Good for savers seeking growth potential, with the peace of mind of money-back guarantee points, plus the opportunity to lock in growth every five years
    • No need to save for a set period but this option should perform best if money is to be invested until at least the next five-year set guarantee point
    • Open with just a £1000 initial lump sum
    • The growth of your savings in this option will depend on the investment performance of our Life Fund
    • Charges apply for this product, please see our Key Information Document
    • Terms and conditions apply

    The value of tax benefits depends on your individual circumstances and tax rates or legislation which could change in the future.

    With the Protected Growth option, if you withdraw your money other than on the five-year set guarantee points, you may get back less than you have put in.

    *A money back guarantee at five-year set points with any gains made also locked in. However, if you withdraw your money other than at the five-year set guarantee points, you may get back less than you put in.


    Protected Growth Past Performance

    The table below shows the value of an Options ISA - Protected Growth option invested on 1 July 2015 to 1 July 2020. It shows the value that the member could have received if they were to withdraw all of their investment on the specified date.

    Date

    Police Mutual Protected Growth

    % in period

    01/07/2015

    £13,000

    -

    01/07/2016

    £12,462

    -4.1%

    01/07/2017

    £13,564

    8.8%

    01/07/2018

    £14,266

    5.2%

    01/07/2019

    £13,933

    -2.3%

    01/07/2020

    £13,811

    -0.9%

    Total Gains

    £811

    6.2%

    Example based on Police Mutual simulated past performance figures due to product launching in November 2015. You should remember past performance is no indication of future performance and should not be the reason for choosing a product.

    • Example based on a £13,000 initial investment on 1 July 2015 and assumes no withdrawals are made.
    • Investment of £13,000 based on ISA transfer.
    • Performance figures take into account all charges which applied during the period. Charges may vary.
    • The performance of your own investment will depend on how much you invest, our charges and our investment performance.
    • If you access your money in our Options ISA - Protected Growth ISA option at any time other than on the guarantee points, you'll get back the current value ‐ which may be less than you invested. The guarantee points are every five years.
    • The value of tax benefits depends on your individual circumstances and tax rates or legislation which could change in the future.

    Fixed Term

    • This has been designed for savers who wish to invest a lump sum over a fixed term for fixed growth.
    • Grow your investment by a fixed percentage over a set period of time with no charges
    • A good option if you want to save over a shorter period of time
    • The minimum lump sum investment is £1,000
    • The Fixed Term option comes with a money back guarantee at all times. However, if your money is withdrawn before the end of the fixed term, only the amount invested can be accessed

    The value of tax benefits depends on your individual circumstances and tax rates or legislation which could change in the future.


    Existing Options ISA policyholders can continue to invest each tax year up to the annual ISA allowance. If you would like to top up your current plan, please contact us.

     

  • Closure Date: 31 October 2008

    You invest a lump sum into our Life Fund. In return we guarantee to pay you a lump sum of at least the amount you invested (less any earlier withdrawals you make) on the tenth and every subsequent fifth anniversary of investment. We may also add bonuses to reflect investment performance over the period you invest.

    There’s no term. We’ll contact you shortly before a guarantee point to let you know the value and explain your options.

    You can also take money out regularly or some or all of it at any time between the guarantee points. If you do so, you may not get back what you put in and we may apply a Market Value Reduction.

    You may have to pay tax at any time you take money out, depending on the amount you withdraw and if you need to pay higher rate tax.

    If you die, we’ll pay a lump sum of at least 101% of the guaranteed amount.

  • Closure Date: 14 September 2020

    You could save from the equivalent of £1 a day, and receive a guaranteed minimum payout at the end of the term, or if you die before the end of the term.

    Pay directly from your Police salary or pension, or by Direct Debit, for a set term between 10 and 30 years and receive a guaranteed minimum amount at the end of the term, with the potential for a final bonus based on the performance of the fund.

    If you cash in before the end of the term, you might get back less than you put in. Additionally, the guaranteed minimum amount at the end of the term might be less than the total you invested, depending on your age at outset. A 5% deduction is no longer applied to the surrender value from 1 October 2020.

  • Closure Date: 30 June 2020

    You can save regularly and make top-up payments from £20. There is also an automatic 20% tax relief so for every £100 you save, £125 is added into your pot. Higher rate taxpayers can reclaim further tax relief directly from the HMRC. You can access your money when you're 55 (57 from 2028), whether you've retired or not.

    Contribute the greater of £3,600 gross (£2,880 net of basic rate tax) or 100% of your gross UK earnings up to £40,000 per year (2020/2021 tax year) before you’re subject to tax penalties.

    The government sets a ‘Lifetime Allowance’ for pensions, measured against the value of your total pension benefits. If you exceed your Annual Allowance or Lifetime Allowance, tax penalties may apply. The Allowance is currently £1.0731m (2020/21 tax year) and it is expected to increase each year in line with the Consumer Price Index.

    The value of tax benefits depends on your individual circumstance and tax rates or legislation which could change in the future.

    How much you get back depends on the performance of the Stakeholder Pension Fund. The value of your fund can go up and down and you may get back less than you invested.

    For more information please read the Key Features Document.

    Existing policyholders can continue to contribute to their pension. The minimum lump sum amount is £20. Regular payments can be started or stopped at any time. They can also be increased or decreased, with a minimum of £20 per month to do this please contact us on 01543 441 630.

  • Closure Date: 6 April 2006

    You invest flexible amounts into our Life Fund. In return, we guarantee to pay you a lump sum on the date you tell us you expect to take your money out (normally after age 55) or if you die before that date. We may also add bonuses to reflect investment performance over the period you invest.

    You can invest new money up to limits set by the government and get extra money added with pension tax relief. We claim basic rate tax relief for you and invest it in your plan. If you’re a higher rate taxpayer, you can claim further tax relief through your tax return. You can also transfer in other personal pensions you have elsewhere.

    We’ll contact you shortly before the age you’ve chosen to take your money to let you know the value and explain your options. You can change this date at any time. For the guarantee to apply the new date you choose will need to be at least six months after your original date.

    You can transfer all of your money to another personal pension at any time. If you do so, you may not get back what you put in and we may apply a Market Value Reduction.

    Existing policyholders can continue to contribute to their pension. The minimum lump sum amount is £200. Regular payments can be increased, reduced, started or stopped at any time, with a minimum of £20 per month.

    Top Up Pension Key Features Document

The (not so) small print
Savings and Investment products are provided by Police Mutual Assurance Society Limited trading as Police Mutual. More information is available on our legal page.

Healthcare products are provided by PMHC Limited trading as Police Mutual, more information is available on our legal page.
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