The affordable, tax-efficient child savings account for
a head start in life
Provide your child with a cash sum to help them get started at
university, buy their first car or put a deposit on a flat. With
our Child Tax Exempt Savings Plan, not only are you saving for your
child's future, but you have the benefit of being able to choose
exactly when they receive their guaranteed cash lump sum. Plus, you
don't have to pay Income or Capital Gains Tax on the money you
save. This child savings account is suitable as a longer term
savings plan and can be opened as an alternative to the Child Trust
Fund, or alongside one.
Tax-efficient savings for your child
Your child's savings are maximised because our plan's so tax
efficient, with no Capital Gains and Income Tax to pay.
Only a friendly society like us can give you these tax
advantages through this type of child savings account.
To ensure the tax-efficiency of the plan, you must continue
your monthly contributions for your chosen term (minimum term is 10
years). If this isn't the case, any gains the plan makes may
be subject to tax.
Tax rules may change and depend on your individual
circumstances.
If you stop paying contributions in the first year, the policy
will lapse with no value and you will not be able to have your
contributions refunded.
It's affordable - from £15 a month
You can provide your child with a cash lump sum by paying a
monthly premium of only £25 per month, or from £15 if you apply
online, for your chosen term.
It's up to you when your child receives their cash
payment
You decide how long you want to contribute to this child
savings account and when it pays out the guaranteed cash lump sum
to your child (from age 16 and subject to a minimum 10 year
term). You have a choice of fixed terms, from 10-25
years.
Potential for your child's savings to
grow
You have the reassurance of knowing your child will receive at
least the guaranteed maturity amount, which is no less than the
amount paid in (as long as premiums are paid throughout the
term).
The possible addition and value of bonuses depends on how much
profit the With Profits Fund makes and how we decide to distribute
it. For more detailed information on how we manage the fund, take a
look at ' How you share in the profits of
Foresters'.
The addition of bonuses is not guaranteed and so it is possible
that the Child Tax Exempt Savings Plan might not receive any annual
and/or final bonus from the With Profits Fund.
You should also be aware that inflation will reduce what the
child can buy in the future with the fund.
As with all investments, please remember that past performance
is not a guide to future performance.
A Bank or Building Society account has greater certainty of
growth than a Child Tax Exempt Savings Plan.
When you take out a Child Tax Exempt Savings Plan with
Foresters Friendly Society your child will automatically gain
access to our unique range of added benefits - at no extra cost.
These include a number of discretionary grants for members
aged 16 and over who are in further or higher education or studying
for a recognised qualification, as well as savings and discounts on
some of the UK's top brand names. Discretionary benefits are
not regulated by the FSA.
