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 2019

After a turbulent end to 2018, we saw an immediate upturn in global stock markets at the start of the year which continued throughout 2019, driven by the de-escalation of geopolitical tensions and a reduction in the uncertainty surrounding Brexit following the snap general election in December. Our UK equity portfolio provided a 20% return, with overseas equities recording 25% gains and corporate bonds yielding 10%.

Our property portfolio continued to provide consistency for the overall fund by delivering a respectable 6% return. As seen in the table below, we achieved premium income of £20.7m with assets rising to £175.0m. Our popular ISA and Investment Bond continued to attract new members to the Society due to our competitive rates and the level of service provided by our expanding team. Our member satisfaction surveys (that we send out to all members) also show an impressive overall satisfaction score of 95%. Thanks to the quality and diversity of the Society’s underlying assets, a very strong investment return of 10.2% was achieved.

However, as a result of the ongoing pandemic, it was necessary to reflect the significant market slump experienced during the first quarter of 2020 and the historically low Bank of England interest rate within the declared bonus rates for 2019. The declared rates remain very competitive and should provide our members with the reassurance that the Society is sufficiently robust to persevere through the current crisis.

2019 highlights

  • Our total assets increased to £175.0 million, a 21.2% increase on 2018, which saw assets reach £144.3 million.
  • The core membership grew from 11,635 members in 2018 to 11,941 at the end of 2019 - a 3% increase.
  • Total number of policies (excluding our Child Trust Fund accounts increased by 6% from 2018 to 16,518. Total policies (including CTF) now stands at 79,741.

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

 

2019

2018

2017

2016

2015

Premium Income £m*

20.7

16.8

19.7

17.5

13.05

Total Assets £m

175.0

144.3

138.4

113.8

90.4

Number Of Members*

11,941

11,635

11,294

10,678

9,955

Number Of Policies*

16,518

15,604

14,837

13,654

12,416

*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 2020 interim rate is used for maturities and claims prior to the next declaration and is not a reliable indicator of future bonus rates.

 

2020 interim rate

2019

2018

2017

2016

Investment ISAs*

3.50%

4.00%

4.50%

4.50%

4.75%

Investment Junior ISAs*

3.75%

4.25%

4.50%

4.50%

4.75%

Tax Exempt Savings Plan New Issue (Type 43)

0.70%

0.95%

1.20%

1.20%

1.50%

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

0.50%

0.75%

1.00%

1.00%

1.30%

Regular Savings Plan New Issue (Type 47)

0.50%

0.75%

1.00%

1.00%

1.10%

Investment Bond

1.50%

2.00%

2.50%

2.50%

2.75%

Income Bond

1.75%

2.25%

2.75%

2.75%

3.00%

Pension Bond

2.00%

2.50%

3.00%

3.00%

3.25%

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

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

No other final bonuses are currently being paid due to difficult global market conditions but can be reinstated at any time should financial markets improve and stabilise.

This page will be updated as soon as final bonuses are reinstated.

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

Plan

2020 interim rate

2019

2018

2017

2016

Regular Savings Plan Old Issue (Type 27)1

0.30%

0.55%

0.80%

0.80%

1.00%

Tax Exempt Savings Plan Old Issue (Type 23)1

0.50%

0.75%

1.00%

1.00%

1.30%

Pension Bond

2.00%

2.50%

3.00%

3.00%

3.25%


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

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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