Your Police Mutual. Owned by you. Run by you.

The table below shows the guaranteed minimum payout you’ll receive if you pay £5 per week for a particular period.

Guaranteed minimum payout illustration

Illustrations for other amounts, age groups or terms of years can be calculated using our online illustration calculator.

The guaranteed payout varies with age because of the life cover included in the plan and at some ages may be less than has been paid in.

The amount you receive in addition to that shown will depend on our investment performance, our charges, the impact of tax and the results from other business areas where the Life Fund shares the risks and rewards.

You can start more than one plan. Why not take out lots of little plans set to end at regular intervals throughout your career - and even into your retirement – and get regular cash lump sums in the future.

Your last plan must expire before your 80th birthday.

In addition to your guaranteed minimum payout, your plan may earn regular bonuses.  Once added, these are guaranteed and cannot be reduced or taken away.  A final bonus may be paid when the plan reaches the end of its term. The value of all bonuses depends on the performance of the fund.

To get the full benefit from the plan, it is important to continue for the full term. If you cash in your plan early you may get back less than you’ve paid in.

Your money is invested in the Police Mutual Life Fund. The Life Fund invests in a mix of assets such as company shares, property, bonds (which are a type of loan to governments or companies) and cash.

The Life Fund is managed by a team of investment professionals who aim to take advantage of the performance of these different assets.

The plan contains life cover as standard - a valuable safeguard for you, your family and your dependants. If you die during the term of your plan, the guaranteed minimum payout will be paid – with all added bonuses.

The majority of forces can deduct payments directly from your salary – you can see a list of them here.

If your force can’t deduct payments for you, tick the ‘direct debit’ box on the application form and fill in your bank details. Payments will be deducted on acceptance of your application, and your certificate of membership will be sent to you for safekeeping.  

Your payout at the end of the term will be free of any personal tax. We pay tax on the fund, so you won’t need to. Current levels and bases of taxation may change.

If you stop payments or cash in within ten years (or three-quarters of the term if less) you may have to pay income tax on the proceeds. Your entitlement age allowance (if applicable) may be affected if the amount payable is more than the payments made.