Foresters team up with Telegraph Money
Tuesday, April 30, 2013
Foresters Friendly Society is the chosen provider of the Telegraph Media Group's Regular Savings service. Launched in December 2011, the mutual provider continues to provide its Guaranteed Savings Plan and Tax Exempt Savings Plans for adults and children to readers of the Telegraph Money supplement.
Financial pressures facing consumers are huge; a rise in the cost of living coupled with higher education costs and rising property prices means that it is more important than ever for parents to save as much as they can for their future as well as that of their children. Grandparents can also help ease the burden by saving for their offspring's children.
The Foresters Child Tax Exempt Savings Plan (CTESP) is suitable as a longer term savings plan which can be opened alongside or as an alternative to a Junior ISA, Child Trust Fund, or children's bank account. Payments range from £15-25 per month and consumers can save for between 10 to 25 years. Any growth added to the guaranteed lump sum is free from capital gains and income tax, and when the plan reaches maturity there will be no tax to pay. You should be aware that tax rules depend on individual circumstances and may change in the future. Tax-free means that like ISAs and pensions, tax is automatically deducted from UK share dividends at source and any growth added to the plan is free of tax in your child's hands.
The Guaranteed Savings Plan enables savers to pay in between £50 to £100 per month and guarantees to pay out more than they have paid in when it comes to the end of its term (between 10 to 25 years). The guarantee is based on savers maintaining their contributions for the full term of the plan.
Neil Armitage, Marketing Director at Foresters Friendly Society said, "With over 175 years' experience of working for its members, Foresters has a proven track record for providing financially robust savings, investment and insurance plans.
"We believe it's important for individuals to rediscover the importance of long-term savings and, by partnering with the Telegraph Media Group, the Foresters Friendly Society savings plans are able to reach a wider audience."
Foresters' policyholders will automatically have access to Foresters Extras - a benefits package available at no additional cost - including access to a GP consultation line and discretionary discretionary grants, including Educational Awards to assist with the costs of higher education or training.
The member benefits offered by Foresters Friendly Society are not regulated by the Financial Conduct Authority.