The Schoolmasters Provident Society was founded in 1922 by a group of teachers for the benefit of teachers. The Sickness Income Plan was based on a Teachers Provident Society product for which the founders became ineligible by being members of the National Association of Schoolmasters (NAS) rather than the National Union of Teachers.
Following the merger of the NAS with the Union of Women Teachers (UWT) the Society changed its name to The Schoolteachers Provident Society in 1980. Further changes in legislation and regulation necessitated another change to the name of the Society, which in 1994 became the Schoolteachers Friendly Society.
The Society current offers three products:-
- Child Trust Fund Accounts (CTF)
- Sickness Income Plan (SIP) (for adults)
- ChildCare Plan (for children)
At a Special General Meeting held on 15th January 2011 the members of the Schoolteachers Friendly Society voted overwhelmingly in favour of a transfer of engagements to the Independent Order of Odd Fellows Manchester Unity Friendly Society Limited (the Oddfellows).
The transfer was completed on the 31 March 2011 and the Schoolteachers Friendly Society is now part of the Oddfellows Group. Further information about the Oddfellows can be found www.oddfellows.co.uk
The Society will continue to operate under the Schoolteachers brand and the Schoolteachers business will continue to be managed by the Society's existing staff from the offices in Liverpool.
If you would like more information about the transfer of engagements you can download a booklet here.