Tax Exempt Savings Plan
What?
A Tax Exempt Savings Plan is designed specifically to provide a tax-efficient lump sum for you at the end of a specified term of years. There is a guaranteed minimum cash amount payable at the end of your chosen term, subject to all monthly premiums being paid. This will not be less than the amount you have paid in.
Why?
- From just £15 a month You can receive a guaranteed cash lump sum by paying a monthly premium of only £25 per month, or from £15 if you apply online, for the chosen term.
- Choose when you receive your cash payment You can decide for how long you want to contribute to the plan and when you want to receive your cash payment. You have a choice of fixed terms from between 10 to 25 years.
- No upper age limit The Tax Exempt Savings Plan is available to anyone 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 premiums to the Tax Exempt Savings Plan are not connected to any other tax-efficient allowances - such as ISAs. As long as you are a UK resident and aged 16 or over you can apply.
- Only a Friendly Society can offer these tax advantages Our Tax Exempt Savings Plan helps to maximise your savings because it's so tax-efficient. Only a Friendly Society such as Foresters Friendly Society can give you these tax advantages through a regular premium savings plan.
- Potential for growth of the savings plan You have the reassurance of knowing you will receive at least the guaranteed maturity amount (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 and technical information about how we manage the fund, see ' How you share in the profits of Foresters'
- Your partner can take out their own Tax Exempt Savings Plan as well You cannot take out a joint plan - but your partner can take their own Tax Exempt Savings Plan so you can both benefit from the tax advantages.
- Membership brings you access to a unique range of added benefits - at no extra cost! When you take out our Tax Exempt Savings Plan, you will automatically enjoy the extra social, benevolence and protection benefits of our unique Membership » more
How?
Choose how long you wish to save on the application form.
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
- Guaranteed cash payment on maturity
