ISA
What is an ISA?
An ISA aims to maximise your savings because it's so tax-efficient. You do not have to pay any Income or Capital Gains Tax on the returns from your savings. And there's no need to declare your ISA on your tax return.
Why invest in an ISA?
- An ISA Account Helps you make the most of your
money
Your contributions are invested into the Foresters With Profits Fund with the aim of providing growth over the long-term (five years or more). Bonuses may be added to your ISA and the value of these will depend on how much profit the With Profits Fund makes and how we decide to distribute it. The addition of bonuses is not guaranteed.
With profits funds are different from a Bank or Building Society account where interest is added, because the growth of the Foresters Friendly Society ISA depends on the performance of the With Profits Fund and not on interest rate movements. In adverse market conditions a Market Value Reduction could be applied when you cash in your ISA, meaning that the amount you receive will be reduced and in some investment conditions you may not get back the full amount originally invested.
For more detailed and technical information about how we manage the fund, see ' How you share in the profits of Foresters'
- Save on a monthly basis or invest a lump sum
You can contribute either regular amounts from as little as £30 per month by Direct Debit or invest a one-off lump sum (minimum £250). Or have a combination of both as long as you do not go over the limits in any one financial year, currently £10,200.
Download an ISA Top Up Application Form. - Keep your ISA as long as you want
ISAs are best viewed as a long-term investment which you should aim to keep for at least five years or more. As there are no time restrictions on how long you can keep your money in an ISA, you can let it run for as long as you want subject to the current ISA rules.
- Your partner can take out their own ISA as well
You cannot take out a joint ISA but your partner can invest in their own ISA - meaning you can both benefit from the growth potential and tax advantages.
- You can access your money when you want
You can cash in your Foresters ISA whenever you want, but if you cash in during the early years you may get back less than you have paid in. The cash in value of your ISA will depend upon the amounts you have invested, the investment returns that we achieved, and our costs. For with profit policies, we aim to smooth out many of the ups and downs in investment markets so that the policy value gradually increases with the addition of regular bonuses. In favourable investment conditions we may also add a final bonus to the policy value, provided that the policy has been in force for at least 5 years. Conversely, in adverse investment conditions we may apply a Market Value Reduction to reduce the policy value.
- Membership brings you access to a unique range of
added benefits - at no extra cost!
When you take out our ISA, you will automatically enjoy the extra social, benevolence and protection benefits of our unique Membership» more
