Performance

We've been around for over 125 years, and we’re proud of our performance both past and present. Keep reading for more information on our current bonuses, past performance and our highlights for the previous year.

Overview of 2020

2020 proved to be a year that is unlikely to be easily forgotten, a year in which Brexit negotiations and the looming end of the transition period were expected to dominate headlines. Instead, the Covid-19 pandemic took hold, rapidly spreading across the globe and forcing lockdowns to be applied to the majority of the worldwide population. Although several global stock indices did finish the year at record breaking highs, the FTSE 100, which tracks the largest 100 UK companies, ended 2020 having fallen by around 15% over the course of the year.

The overseas equities held by the Society had a remarkable year, with the Fidelity Emerging Markets fund, and the Fidelity Global Special Situations fund, which now equal a combined 14% of the with-profits fund, returning 25% and 22% respectively.

The property portfolio returned a respectable 2% over 2020, with an average of 5% per year over the past five years highlighting the merits of the diversification within the directly held properties.

The Society’s overall assets grew by 5% to a record £183m, illustrating that by ensuring a strong level of diversification, positive returns are achievable in volatile markets.

Despite the fall in the UK index, the Society’s with-profits fund provided an overall return of 3.7%.

2020 highlights

  • Our total assets increased to £183.0 million, a 5% increase on 2019, which saw assets reach £175.0 million
  • The core membership grew from 11,941 members in 2019 to 12,258 at the end of 2020 - a 3% increase
  • Total number of policies (excluding our Child Trust Fund accounts) increased by 5% from 2019 to 17,379
  • Including the Child Trust Fund the Society now has over 80,000 policies and accounts

More information on on how we have performed over the last number of years can be found below.

 

2020

2019

2018

2017

2016

Premium Income £m*

17.8

20.7

16.8

19.7

17.5

Total Assets £m

183.0

175.0

144.3

138.4

113.8

Number Of Members*

12,258

11,941

11,635

11,294

10,678

Number Of Policies*

17,379

16,518

15,604

14,837

13,654

*Excludes Child Trust Funds

Our bonus rates

Unlike banks who add interest to their plans, we aim to add bonuses to our members' policies. An overview of our recent bonus rates can be found in the table below.

Please note, our 2021 interim rate is used for maturities and claims prior to the next declaration and is not a reliable indicator of future bonus rates.

In certain circumstances your capital is at risk, please read the product brochure and Key Information Document for further information.

 

2021 interim rate

2020

2019

2018

2017

Investment ISAs*

3.50%

3.50%

4.00%

4.50%

4.50%

Investment Junior ISAs*

3.75%

3.75%

4.25%

4.50%

4.50%

Tax Exempt Savings Plan (Type 43)1

0.70%

0.70%

0.95%

1.20%

1.20%

Tax Exempt Savings Plan with Life Insurance (Type 24)1

0.50%

0.50%

0.75%

1.00%

1.00%

Regular Savings Plan (Type 47)1

0.50%

0.50%

0.75%

1.00%

1.00%

Investment Bond2

1.50%

1.50%

2.00%

2.50%

2.50%

Income Bond2

1.75%

1.75%

2.25%

2.75%

2.75%

*Before deduction of the 1.50% annual management charge for ISAs/JISAs.

1A final bonus of 1.00% is currently being applied to maturing endowment policies.

2Final bonuses are being paid on bonds in force for at least five years at 2.50%. This is calculated on the sum assured and previous bonuses.

Please see bonus rates for our older plans below (please be aware, these are no longer open to new business).

Plan

2021 interim rate

2020 

2019

2018

2017

Regular Savings Plan Old Issue (Type 27)1

0.30%

0.30%

0.55%

0.80%

0.80%

Tax Exempt Savings Plan Old Issue (Type 23)1

0.50%

0.50%

0.75%

1.00%

1.00%

Pension Bond2

2.00%

2.00%

2.50%

3.00%

3.00%


1
A final bonus of 1% is currently being applied to maturing endowment policies.

2Final bonuses are being paid on bonds in force for at least five years at 2.50%. This is calculated on the sum assured and previous bonuses.

 

A full review of our performance highlights for 2020 can be found here.

Market leading returns

We're proud that we are able to continue to deliver market-leading returns to our regular premium policyholders over 10, 20 and 25 years (according to Moneyfacts Investment Life & Pensions magazine July 2020).

The full results can be found here.

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