This document sets out the Principles and Practices of Financial Management (PPFM) by which The Shepherds Friendly Society Limited conducts its With-Profits business. It has been approved by the Society’s Board of Management and became effective from the 1st October 2023.

The purpose of the PPFM is to enable a better understanding of the way the Society conducts its With-Profits business and, in particular, the principles and practices adopted by the Board in the application of its discretion. This improved understanding is intended to protect the interests of, and promote confidence among, With-Profits plan holders.

Principles describe the enduring statements of the standards the Society adopts when managing the With-Profits fund and are not expected to change often. Practices, on the other hand, describe the Society’s current approach and will be subject to more frequent change but still within the Principles.

The format of this PPFM considers each key area where discretion is applied and sets out firstly the relevant Principles, followed by the Practices.

You can download a full copy of our PPFM here:

Principles and Practices of Financial Management (PPFM)

You can download a copy of our Board Report to Policyholders here:

Board Report to Planholders

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