That’s why we’re giving your eligible employees a little extra by sharing some of our profits for the seventh year running.
We're sharing £155m of our profits with our customers.
Around 2m customers will be awarded ProfitShare.
We're increasing unit-linked customers’ pension savings by 0.15%.
* This is based on year end 2022 and includes awards made to with profits customers. These customers will receive a 1.2% enhancement in 2023.
Since we made our first ProfitShare award in April 2017, we’ve shared over £1 billion of our profits with qualifying customers.
The ProfitShare amounts shown include awards made to with profits customers
Here you'll find the most common questions we're asked about ProfitShare.
We'll review our financial position and performance at the end of each year.
We'll work out if ProfitShare can be awarded.
We'll add the award to a separate ProfitShare account within customers' plans.
Customers can see the value of their ProfitShare account in their yearly statement, by logging into online service or by downloading our mobile app.
Customers can take the value of their ProfitShare account with the rest of their pension savings.
For the last seven years, we've increased the pension savings of our unit-linked pension customers between 0.15% and 0.18% each year. There's no guarantee that we'll be able to award ProfitShare every year. But once we've awarded ProfitShare, we'll never ask for it back.
ProfitShare awards will be given on 1 April each year. In order to be eligible, employees' plans must have been in force on 31 December the previous year and on the date the award is given.
ProfitShare awards will be invested in the same investments as employees' other pension savings.
Employees will see the value of their ProfitShare account in their yearly statement, by logging into online service or by downloading our mobile app.
To be eligible for ProfitShare, employees must have a pension plan that started with us on or after 1 July 2001.
If that's the case, we'll automatically set up a ProfitShare account under their plan. You don't need to do anything.
If your scheme is an occupational scheme, employees' eligibility for ProfitShare is based on the date your scheme began – not the date the employee joined.
ProfitShare awards will be applied as at 1 April each year. To qualify, employees' plans must be in force on 31 December the previous year and on the date the award is given.
There's no guarantee that we'll be able to award ProfitShare every year.
Many of our customers are also members of Royal London, which entitles them to have their say on company decisions and appointments by voting at our annual general meeting (AGM). Since January 2016, customers who take out a pension plan with us will become a member.
Each year, an information pack is sent to all members for our upcoming AGM and includes information on how we’re doing, details of what we’ve achieved and how they can vote at our AGM.
Read about our most recent AGM.