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PPFM – Principles & Practices of Financial Management

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 2018) version of the PPFM is available here.

Summary

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:

  • Evolving detail as to the management of the Monthly Savings ISA including the circumstances in which successive contracts will be merged. The With-Profits Actuary will be required to endorse the fairness of any merger.
  • The removal of the restriction on the proportion of assets allowed in any one pooled fund. This will enable the Society to substantially reduce the number of managers it utilises.

 

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‘I’ve used Metfriendly for the last 5 years and recently the money has gone towards a deposit for our house. I will be signing back up next year to help save towards my kids future.’

Mrs A Cooper, Met CC, Bow

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