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Stocks & Shares NISA

With regular and lump sum options and the potential for additional bonuses, it's tax-free flexible saving that makes perfect sense

Stocks & Shares NISA

So how does it all work?

Click a title to read detailed information.

Investing in a Stocks & Shares NISA

Foresters Friendly Society offers a Stocks & Shares NISA, into which you can invest up to £15,240 during the 2016/2017 tax year, provided you do not already hold another Stocks & Shares NISA with another provider.

A cash NISA can be held alongside our Stocks & Shares NISA in the same tax year, however the level of cash you hold will affect the investment limit of your Stocks & Shares NISA.

Regular and partial withdrawals can be made, as long as the remaining balance of your NISA does not fall below £500, however these cannot be replaced.  For example if you had invested your full NISA savings allowance and withdrew £1,000, you could not invest another £1,000 to replace this as you will have already reached the allowance limit for that tax year.

Your choice of payments

You can choose to contribute regular amounts from just £50 per month by Direct Debit, invest lump sums or, if you prefer, you can use a combination of both up to the maximum NISA savings allowance per tax year. If you wish to invest lump sums a minimum £500 lump sum contribution is required to open a NISA, then top ups of at least £250 can be made.

Because a NISA is designed to be held for a number of years, the limit on annual contributions may change in the future.  We will write to you each year to let you know how the limits increase so that you remain fully informed about your NISA tax-free savings allowance.

How could my NISA savings grow?

Your contributions to our Stocks & Shares NISA are invested into our Order Insurance Fund, with the aim of providing investment growth. Dependent on the performance of our Order Insurance Fund, we may add annual bonuses and a final bonus to your NISA which would increase your savings value.

As with most investments, the addition of bonuses is not guaranteed, so your NISA may not receive an annual or final bonus. All bonuses will depend on the performance of the fund and how we decide to distribute any profits.

Accessing your money when you want it

You can cash-in your NISA whenever you want. You can also make regular (frequent) and partial (one-off) withdrawals from your NISA should you wish to access your money.  Withdrawals are subject to minimum amounts, please see the Key Features for further details.

The cash-in value of your NISA will depend upon the amounts you have invested, the performance of the fund and any expenses incurred.

In adverse market conditions a Market Value Reduction (MVR) could be applied when you withdraw from, or fully cash-in your NISA, meaning that the amount you receive will be reduced and in some investment conditions you may not get back the full amount originally invested. We would only do this to ensure fairness between account holders who leave the fund at different times. We won't apply an MVR should you die.

Transfer existing NISAs

You can transfer an existing NISA into our Stocks & Shares NISA and then continue to save for your future with Foresters Friendly Society. 

Transferring an existing NISA into our NISA is simple.  All you need to do is complete a paper application form and a transfer form (both of these are available to download from our website).  Then send the forms to Foresters and we will contact your existing NISA provider to start the transfer process.  You won't need to do any more than that and we will contact you when the NISA transfer is finished. 

If you would like to discuss transferring to Foresters Friendly Society in more detail, either call our friendly UK-based team on 0800 988 2418 or email us at memberservices@forestersfriendlysociety.co.uk and we will be happy to answer any questions you may have.

Your partner may also hold a Stocks & Shares NISA

Although you can't take out a joint NISA, your partner can also take one out, so you can both benefit from the tax advantages and growth potential. In the current tax year, both you and your partner can each contribute a maximum of £15,240 to one of our Stocks & Shares NISAs, subject to any savings already held in a cash NISA.

Tax-free means free of tax in your hands however tax is automatically deducted from UK share dividends and that tax cannot be reclaimed. Please be aware that tax rules might change and depend on individual circumstances.

Other benefits of taking out a Stocks & Shares NISA

As a Foresters member, you will have access to Foresters Extras - a range of discretionary benefits we offer at no additional cost which include:

  • dental or optical grants to assist with covering costs are available to claim each year
  • discretionary grants including Educational Awards to assist with the costs of higher education or training.

These membership benefits aren't regulated and are regularly reviewed by us to make sure our members get the best options.

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