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Official title sponsor of the
Table Tennis National Championships 2016

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Table Tennis England welcome PG Mutual as Official Partner

PG Mutual have signed a three-year deal to become the Official Income Protection Partner of Table Tennis England, the sport’s National Governing Body.

It follows the St Alban’s-based company’s successful title sponsorship of the PG Mutual National Championships in 2016, when the latter stages of the tournament were televised live on ITV4. 

PG Mutual will continue to put its name to the Nationals as part of the new deal. In addition, the company will have the opportunity to play a key role in staging the Cadet & Junior Nationals and the U10-U13 Nationals.

Mike Perry, CEO of PG Mutual, said: “Table Tennis England organised a very professional PG Mutual Nationals last year which were well received by spectators, the TV audience and the wider table tennis family, so we were keen to extend our involvement in the sport.”  

“I know what an exciting and family-friendly sport it is, as well as being a great way to be active and socialise with others. It fits in perfectly with our family-focused business approach.”

Table Tennis England Chief Executive Sara Sutcliffe said: “We’re delighted to extend our relationship with PG Mutual.

“Mike Perry and his team have shown outstanding commitment to help us develop our sport – this really is a partnership in every sense and we look forward to continuing to work together to help get everyone talking about table tennis.”

Table Tennis England plans to name further Official Partners in the coming months.

 

Protect Today and Save for Tomorrow

PG Mutual has been recognised as our highly coveted Membership Organisation of the Year, we are excited to reveal here at Business and Industry Today.

The not-for-profit mutual, which was originally founded in 1928 as the Pharmaceutical and General Provident Society Ltd, has rapidly developed, diversifying progressively to become the preferred income protection specialists of choice for working professionals.

Click here to download the full press release in PDF format.

PG Mutual to sponsor table tennis National Championships

PG Mutual, the specialist income protection provider, has been unveiled as title sponsor of the 2016 table tennis National Championships.

The St Albans-based company has invested in the event, which will be called the PG Mutual National Championships.

The latter stages of the event from March 18-20 will be televised live on ITV4, giving both the sport and PG Mutual national exposure.

Mike Perry, CEO of PG Mutual and an enthusiastic table tennis player, said: “We were looking for a sport which fits in with our ethos as a business.

Our support for the National Championships shows what you can achieve through sport. From a recreational sport which you might pick up on holiday, with hard work, dedication and the right support, you can achieve and compete at the top level.

We are very much dedicated to families and work hard to give them the right support when they need it, so it’s a very good fit for us.

We see this as the beginning of a fruitful relationship with Table Tennis England.”

Sara Sutcliffe, Chief Executive of Table Tennis England, said: “We are delighted to welcome PG Mutual to the table tennis family and thank them for their commitment to and investment in our sport. 

With the England Leopards currently performing heroics at the World Championships and the PG Mutual National Championships to be televised live on ITV4, this is an exciting time for our sport

We very much look forward to working with PG Mutual in the months and years ahead.

I would also like to thank our commercial partners at Female Sports Group for their hard work in securing not only TV coverage but also bringing a title sponsor to the table.”

Fraser Houlder, Female Sports Group Director, said: “We are proud to be working with Table Tennis England as their commercial partners as Sara and her team continue to grow the sport and raise its profile. 

Having secured ITV to broadcast the championships we are now delighted to have brought on board a title sponsor. Table Tennis is a family sport and has a huge participation and fanbase and in our discussions with PG Mutual we have found a company who can share this passion with supporting families. They see that table tennis is a sport on the up and they want to be a part of this. 

“We see this as the start of a long-term partnership between PG Mutual and Table Tennis England.”

 

Are people doing enough to protect their income?

Are people doing enough to protect their income? 
 

With the economy slowly emerging from the recession it is no surprise that the purse strings of the treasury are much tighter than they have been in the past regarding state benefits.  Statutory Sick Pay (SSP) and Employment and Support Allowance (ESA) are no exception to this, but how many of us know the current levels of these benefits and how they work? 

SSP and ESA are never going to be an accurate reflection of the lifestyle most of us have worked hard to achieve. For most working people it is incomprehensible to be expected to maintain our standards of living on such a low amount. 

Let’s look at the facts:

If you are employed, you would be entitled to receive SSP from your employer after 3 days of absence from work; a payment that even your employer can no longer claim back from the government. The current level of SSP is now £88.45* per week (or £353.80 per month) and lasts for a maximum of 28 weeks.

However, if you are self-employed and, provided your N.I contributions are up to date, then you do not qualify for SSP but instead would have to apply for ESA. The level of ESA is currently set at £73.10* per week (or £292.40 per month) resulting in a significant drop in income and an onerous application process and a degree of qualification that the state can use to ascertain if an individual really isn’t fit enough to work. 

Consequently, small businesses, who are considering providing staff with their own income protection policy, could potentially save paying out thousands in unbudgeted sick pay costs which now cannot be reclaimed as their policy will pay staff a monthly income, on top of SSP, for a small monthly premium. 

It is clear that people are beginning to recognise that we are on our own when it comes to staying afloat financially during periods of sick leave, what little help the government offer is not designed to protect you for the long-term and therefore it is prudent that we all have a safety net in place. It is not surprising, therefore, that Income Protection sales have been rising in recent years.

So what is stopping people from protecting the one thing that pays for everything? 

It seems that there is a lot of confusion and cynicism surrounding Income Protection Insurance (IP) which is largely down to bad press around Payment Protection Insurance (PPI) and a lack of trust for financial institutions in general. 

Cynicism about insurers stems from past scandals such as the mis-selling of PPI. These plans were cheap, unsophisticated, riddled with exclusions and mis-sold on an industrial scale. Since 2001 the Financial Ombudsman Service – which mediates between financial companies and disgruntled customers – has been flooded with over 1.3 million complaints about ‘PPI’.

By contrast, income protection cover has a good track record of paying out claims. Claim paid rates across the industry are often well above 90%. 

Cost of cover can also be an issue; however, the mistake that a significant number of people make is to automatically look to put as much cover in place as possible without first considering the actual cover they would actually need. Minimal state benefits will contribute and if you are seriously ill your lifestyle is highly likely to change.  It is unlikely therefore that many of us would actually need the maximum level of cover available. If Income protection is a serious consideration then consider a budget based approach. Work out the level of monthly contribution you could afford to protect your income and find out how much cover you could get for your budget. There are many ways to alter the premiums in line with your budget and providers are more than happy to discuss options and “tailor” a suitable level of cover around your budget. Consider that most mortgage companies and lenders in general would be more responsive to a borrower that is able to make proportional payments to one that makes none at all, so if your budget doesn’t cover the exact level of protection you need then at least think about what the alternative would be without protection at all.

 

*DWP, April 2015 

 

Leading UK income protection insurance provider asks who should be responsible for sick pay

Leading UK income protection insurance provider asks who should be responsible for sick pay

Whether it’s state-funded, self-funded or employer-funded, the simple fact is, if a person is unable to work due to illness or injury, they still need an income to be able to pay the bills and maintain a reasonable standard of living. The big question is, who should be paying for it? 

It seems the government has joined in the debate, with Work and Pensions Secretary, Iain Duncan Smith being reported as saying he was “very keen to look at the possibility of people using flexible products to build up savings from which they can draw at times of need.” 

He went on to say, “We need to support the kind of products that allow people to dip in and out of when they need money for sickness or care or unemployment.”* 

Mike Perry, CEO of income protection insurance specialists, PG Mutual commented, “We welcome the government taking a serious interest in the reality of how people cope financially if they find themselves on sick leave. We have been offering the kind of products Mr Duncan Smith wishes to support for over 80 years. Our hope is that if the government do take this further, they consider recommending products from mutual suppliers like ourselves, and furthermore suppliers of Holloway products which give the customer an insurance policy as well as a savings element – just one of the many benefits of not having to pay big bonuses to shareholders! 

“We have seen a year on year increase in the number of people taking out income protection policies. All our members tell us the same thing, they don’t want to leave things to chance hoping that if something does happen to them, someone else will take care of them.”

This increase in membership is not surprising when you consider that Statutory Sick Pay (SSP) is just £88.45 per week, yet the average household weekly spend is £517.00^  – not nearly enough for most people to cover the bills. We should be asking ourselves, can we really expect our employers or the government to pick up the tab for our sickness bills? Or should we be taking responsibility for ourselves, and putting a plan in place to protect our financial security throughout our working lives?

*Mail Online – www.dailymail.co.uk/wires/pa/article-3159731/pm-consider-sickpay-change.html

^Office for National Statistics 2014

Around 300,000 UK workers fall into the welfare system because of health-related issues each year, with those on long-term sick leave missing out on £4 billion a year in lost earnings.

February 2016