Performance

With Profits Endowment - Past Performance Results

Moneyfacts Investment, Life and Pensions Magazine published an independent survey which compares traditional with profits endowment returns. Sheffield Mutual continues to deliver market-leading returns to regular premium policyholders over 10, 15, 20 and 25 years.

Click the link below to see the full results.

With Profits Endowment - Past Performance Results (618.8K, .PDF)

Bonus History 

The current and past bonus rates can be found in the table below. The 2018 Interim Rate is used for maturities and claims prior to the next declaration. It is not a reliable indicator of future bonus rates.

Bonus History Sheet - Issued March 2018 (291.5K, .PDF)

Past Performance

          2018
Interim
Rate
2017201620152014  
Tax Exempt Savings
Plan New Issue (Type 43) 
1.20% 1.20% 1.50% 1.50% 2.25%
 Tax Exempt Savings
Plan Old Issue (Type 23)
1.00%* 1.00%* 1.30% 1.30% 2.00%
 Tax Exempt Savings Plan 
with Life Assurance (Type 24)
1.00%* 1.00%* 1.30% 1.30% 2.00%
 Regular Savings Plan
New Issue (Type 47)
1.00% 1.00% 1.10% 1.10% 1.75%
 Regular Savings Plan
Old Issue (Type 27)
0.80%* 0.80%* 1.00% 1.00% 1.50%
Investment Bond  2.50%¥ 2.50%** 2.75%** 2.75%** 3.00%**
Income Bond 2.75%¥ 2.75%** 3.00%** 3.00%** 3.00%**
 Pension Bond 3.00%¥ 3.00%** 3.25%** 3.25%** 3.50%**
 Investment ISAs / JISAs 4.50%‡† 4.50%‡† 4.75%‡† 5.00%‡† 5.50%‡†

* A 2.5% terminal bonus (1.0% prior to 20 March 2017) will be paid on maturing endowments (Policy types 23,24 and 27).

† Before deduction of the 1.5% annual management charge for ISAs/JISAs

‡ A 5% Terminal Bonus applies on types 30 & 31 (Insurance) ISAs taken out in 2003/04 and for ISA subscriptions in the 2009/10, 2010/11, 2011/12 & 12/2013 tax years (2009/10 only prior to 20 March 2017).

** A 5% Terminal bonus will be paid on bonds invested over 5 years.

¥ A 7.5% Terminal bonus will be paid on bonds invested over 5 years.

 

Key Facts

Key Facts20132014201520162017
Premium Income £m* 5.65 9.69 13.05 17.5 19.7
Total Assets £m 68.3 77.5 90.4 113.8 138.4
Number Of Members* 8,508 9,189 9,955 10,678 11,294
Number Of Policies* 10,274 11,281 12,416 13,654 14,837

* Excluding Child Trust Fund.

2017 Business & Financial Highlights:

  • Total assets increased by 22% to £138.4 million (£113.8 million in 2016)
  • Premium income increased by 12% to £19.7 million (£17.5 million in 2016)
  • Membership grew by 6% to 11,294 (10,678 in 2016)
  • Including the Child Trust Fund the Society now has 78,317 policies and accounts 

Sheffield Mutual generates investment returns for its policyholders through a diversified with-profits fund, which achieved an excellent investment return of 8.01% in 2017. This result, combined with the fact that Sheffield Mutual has no shareholders to pay, enabled the Society to distribute annual bonuses to policyholders worth around £1.5 million.

The Society has increased its already strong financial base and its surplus to £17.58 million (£15.04 million at 01 Jan 2017), which are the surplus assets in excess of technical provisions, are 163% of the solvency capital requirement.   

Commenting on the results, Tony Burdin, Chief Executive, said: "The Society’s diversified with-profits fund achieved an excellent return of 8.01% in 2017 and this enabled the Society to declare annual bonuses worth in excess of £1.5 million for members, together with an improvement in some of our final (terminal) bonuses. Our priorities when investing are the security of our members’ funds and maintaining consistent policy returns.” 

Asset Allocation

We hold a significant proportion of commercial property as we can generate good yields from long term leases with reputable tenants. We maintain a reasonable exposure to shares in order to maintain the value of investments over time but hold some of the funds in other assets to improve diversification and spread risk. Please see the current asset allocation mix below as at 31 December 2017:

Pie Chart

Pie Chart

Why choose Sheffield Mutual?

  • The majority of our products have a guaranteed sum assured (final amount) for more than you will pay in
  • As a mutual we have no shareholders to satisfy so all our surplus profits are shared with you, our members
  • The Society operates an active Market Value Reduction (MVR) policy but has never imposed an MVR, although this is no guarantee of the future
  • When you contact Sheffield Mutual you can be guaranteed a friendly and personal service, you will never be put through to a call centre
  • The Society offers discretionary member benefits such as optical and dental grants and the Tell-a-Friend scheme

If you require any further explanations as to how these figures have been produced, please do not hesitate to contact us on 01226 741000 or email us at enquiries@sheffieldmutual.com.

We're Ethical

It is our aim not to invest knowingly or directly in industries relating to armaments, tobacco, gambling or pornography.

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