Our Tax Exempt Savings Plan gives you a tax-efficient way to
maximise your savings and receive a lump sum at the end of the term
you choose. You can count on a guaranteed minimum cash amount,
subject to all monthly premiums being paid, which will not be less
than the amount you've paid in.
This savings account is suitable as a mid to long term
investment and is available to anyone over the age of 16.
Importantly, you don't have to pay Income or Capital Gains Tax on
the money you save - only a friendly society like us can give you
these tax advantages through this type of regular premium savings
account. You might want to open a Tax Exempt Savings Plan in
addition to our stocks and shares ISA or savings Bond.
Save from just £15 a month
It's an affordable way to save for a guaranteed cash lump sum -
pay in just £25 a month for your chosen term, or from £15 if you
apply online.
Future legislation changes could affect the tax status of this
savings plan.
It's up to you when you receive your cash
payment
You decide how long you want to contribute to your plan and
when you want to receive your cash payment. You have a choice of
fixed terms, from 10-25 years, or you can even chose a specific
date like a wedding anniversary or a special birthday.
No upper age limit
This plan is available to UK residents aged 16 years and over
(there is no upper age limit).
You can have a Tax Exempt Savings Plan in addition to
other tax-efficient plans, including ISAs
Your contributions into this plan are not connected to any
other tax-efficient allowances, such as ISAs.
No Capital Gains and Income Tax to pay
You can maximise your tax efficient savings as you don't need
to pay Capital Gains and Income Tax on the return from your Tax
Exempt Savings Plan.
These tax advantages are only available from a friendly society
like us.
To ensure the tax-efficiency of the plan, you must continue
your monthly contributions for your chosen term. If this
isn't the case, any gains the plan makes may be subject to
tax.
Potential for growth of the savings plan
You have the reassurance of knowing that you're guaranteed to
receive at least the amount paid into the plan (as long as premiums
are paid throughout the term).
The addition and value of bonuses, to increase the guaranteed
return, depends on how much profit our With Profits Fund makes, and
how we decide to distribute it. For more detailed information on
how we manage this fund see 'How you
share in the profits of Foresters'.
The addition of bonuses is not guaranteed and so it is possible
that the Tax Exempt Savings Plan might not receive any annual
and/or final bonus from the With Profits Fund. Please
remember that past performance is not a guide to future
performance.
You should bear in mind that inflation will reduce what you can
buy in the future with the fund.
A Bank or Building Society account has greater certainty of
growth than a Tax Exempt Savings Plan.
Your partner can take out their own Tax Exempt Savings
Plan as well
It's not possible to take out a joint plan, but your partner
can take out their own Tax Exempt Savings Plan - so you both
benefit from the tax advantages and maximise your savings even
more.
Automatically become a Member and access our unique
benefits
When you take out a Tax Exempt Savings Plan with Foresters
Friendly Society you'll automatically get access to our special
range of social and protection benefits - all at no extra
cost. Discretionary benefits are not regulated by the
FSA
Do you want to maximise your savings even further through a tax
efficient policy only offered by Friendly Societies? Our Tax Exempt
Savings Plan pays a cash lump sum, free of Income and Capital Gains
Tax, at the end of your chosen term.
Save £25 a month
Choose when you receive your cash payment
You can open a Tax Exempt Savings Plan in addition to an ISA or
Bond
