about our services and costs

1. The Financial Services Authority (FSA)

The FSA is the independent watchdog that regulates financial services. This document is designed by the FSA to be given to consumers considering buying certain financial products. You need to read this important document. It explains the service you are being offered and how you will pay for it.

2. Whose products do we offer?

 We offer products from the whole market

We only offer products from a limited number of companies

We offer only our own products.  

3. Which services will we provide you with?

We will advise and make a recommendation for you after we have assessed your needs

You will not receive advice or a recommendation from us.We may ask some questions to narrow down the selection of products that we will provide details on. You will need to make your own choice about how to proceed.

We will provide basic advice on a limited range of stakeholder products and in order to do this we will ask some questions about your income, savings and other circumstances, but we will not:

              - Conduct a full assessment of your needs

              - Offer advice on whether a non-stakeholder product may be more suitable.

When we have agreed the investment service that we will provide, we will require your agreement to the terms and conditions relating to that service before we can proceed.

4. What will you have to pay us for our services?

- We will tell you how we get paid, and the amount, before we carry out any business for you, by issuing a specific product illustration.

 Please note that there may be other costs, such as taxation, that may arise that are not imposed by us, nor paid by us.

5. Who regulates us?

Sheffield Mutual Friendly Society, 3 Maple Park, Maple Court, Wentworth Business Park, Tankersley, Barnsley, S75 3DP is authorised and regulated by the Financial Services Authority. Our FSA Register number is 139855.

Our permitted business is long term insurance, including savings and protection.

You can check this on the FSA's Register by visiting the FSA's website (www.fsa.gov.uk/register) or by contacting the FSA on 0845 606 1234.

6. What to do if you have a complaint

If you wish to register a complaint, please contact us:

In writing:
Write to the Chief Executive
Sheffield Mutual Friendly Society
3 Maple Park
Maple Court
Wentworth Business Park
Tankersley
Barnsley
South Yorkshire
S75 3DP

by phone:
01226 741000

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.

7. Are we covered by the Financial Services Compensation Scheme (FSCS)?

We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.

The Scheme covers 90% of the value of the claim with no upper limit in the unlikely event that the Society is unable to meet its commitments.

Further information about compensation scheme arrangements is available from the FSCS.

I have read and understood the key facts above (click).