It’s this simple ethos that makes us different to most of our competitors.
All financial organisations in the UK fall into two main groups: public limited companies (PLCs) and ‘mutuals’.
In simple terms, being a mutual means we’re owned by our members. So, unlike a PLC, we don’t have shareholders and we don’t have dividends to pay.
Where a PLC can face demands to pursue greater profits or make snap decisions when markets get tough, our actions will always be driven by the long-term best interests of our members.
Any employee who is enrolled into your pension scheme with us will automatically qualify for membership of Royal London in terms of our Articles of Association1
Once your employees become members, they’ll be able to share in our profits and gain access to other exclusive benefits and competitions.
They’re also entitled to one vote at our AGM, which they can use to help shape the direction of our company. So while the biggest shareholder can drive the agenda for a PLC, the voice of all our members is treated equally.
As a mutual, we think our members should share in our success – so when we do well, we’ll aim to boost their retirement savings. We call it ProfitShare.
1For occupational pension schemes, the scheme trustees will qualify for membership – not the individual scheme members. Further details of the rules governing membership are available on request.