PMAS Regular Savings

Product information

The PMAS Regular Savings plan is designed to help you save an affordable amount each month, and after ten years, you’ll get a guaranteed minimum payout.

Our regular savings plan is a with-profits plan. We invest your payments along with those from other investors in a range of investments through the with-profits fund. This spreads the investment risk, which means you will always be guaranteed a minimum payout – and may receive bonus payments throughout and at the end of your term.

How to apply

Before applying, make sure you’ve read the key features page. You’ll need to have your bank details or payroll number to hand.

You can:

You may also have to provide details of your medical history and your height/weight in metric measurements. If you only know the imperial measures, use our conversion calculator. We may also need your GP’s details.

If there’s anything more you need to know, you can read our frequently asked questions.

Make the most of Regular Savings

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.

Bonus payments

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.

Life cover – protect your investment and your family

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.

How you pay

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.

Tax

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.

Proving your identity

To comply with money laundering regulations, we may carry out an on-line identity check with a reference agency when you apply. The agency will add a note to your credit record to show that an identity check has been made, but this information will not be available to anyone else and will not affect your credit rating.

You can find out more about why we need to check your identity on the Financial Services Authority website.

Why Police Mutual?

  • We’ve been helping the Police Family get the most from their finances for over 80 years.
  • We’re dedicated to providing the best possible products and services, designed to meet the needs of you and your family.
  • We put your interests first, so you can be confident in your finances now, and in the future.