Recent changes to the PPFM
The Principles and Practices of Financial (PPFM) are reviewed by the Board regularly, and the most recent changes were agreed as summarised below. The current (January 2017) version of the PPFM is available here.
The practices have been reviewed to remove redundant wording, to improve clarity with no material changes to the principles, and to update them to reflect:
- A distribution of the Estate as at January 2017 which increases the asset shares attributed to members by approximately £1 million.
- Evolving detail as to the management of the Monthly Savings ISA including the circumstances in which successive contracts will be merged.