We're a mutual and with no shareholders we're owned by and run for the benefit of our members, which include our main fund With-Profits policyholders such as you.
As a With-Profits policyholder in our main fund you share in the profits (or losses) that Scottish Friendly makes each year - we like to call this the ‘Special Members’ Share’.
To ensure The Special Members’ Share is fair each year our Board, having considered advice from the With-Profits Actuary, decides how the underlying investment return (positive or negative) of the assets backing your policy should be increased or reduced to reflect any profits (or losses) arising in Scottish Friendly. The adjusted value is then reflected in the bonuses we declare and the payouts received.
The Special Members' Share has been an important contributor to policy value and, for example, With-Profits policyholders joining us before 2015 have seen a total enhancement to their investment value of 5.3% as a result of the Special Members’ Share.
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