ISA Transfers

Although the ISA grows through bonuses, bonus rates are not guaranteed and in exceptional circumstances could be nil.

There are no early surrender penalties on the Healthy Investment Ethical ISA, however it should be seen as a medium to long-term investment.

If you cash in, or make a withdrawal, a Market Value Reduction (MVR) may be applied, which could reduce the amount you receive, and you might receive back less than you invested. A MVR may be applied if there's a significant fall in the value of the stocks and shares, or other investments we have invested in. It protects members who are not taking their money out of the Society during adverse market conditions and ensures that all members receive their fair share of the With-profits fund. It also ensures that the surrender value of a policy is not unfairly higher than the market value of the assets in the fund; at the time it is withdrawn.

If you have a cash ISA, Innovative Finance ISA or a Lifetime ISA, any remaining ISA allowance can be invested into a Healthy Investment stocks and shares ISA.

If you invest into a Healthy Investment stocks and shares ISA you will not be able to invest in a stocks and shares ISA with another provider during the same tax year.

Inflation will reduce what your investment will buy in the future.

Tax rules can change at any time.

Capital at risk.

If you have any doubt whether this ISA is right for you, you should seek financial advice.

If you decide to invest in a Healthy Investment stocks and shares ISA, you will be investing into our Ethical With-profits Fund, which includes a mix of stocks and shares, fixed interest bonds, commercial property and cash deposits. The mix of assets held changes over time.

We avoid investing in companies in certain industries and those whose activities are not in accord with our members’ personal values. Examples are the tobacco, armaments, alcohol and fur manufacturing industries, gambling and pornography providers and companies that manufacture products or ingredients that have been tested on animals.

We seek to invest in companies that are explicitly involved in activities that benefit society and the environment. Examples are companies that are tackling climate change, promoting a low carbon economy, promoting diversity and equal opportunities, and improving energy efficiency.

Our vision is to invest for a better future, deliver good financial returns and make a difference to society and the environment.

The Society aims to provide a consistent return by smoothing the investment return to avoid volatile fluctuations in the value of your investment. Smoothing may not protect you against long term or sustained falls in the value of investments.

For further information on our Ethical With-profits Fund please click here.

Reversionary bonus

A reversionary bonus is an annual bonus which, once added to your ISA, can never be taken away.

The level of bonus depends on investment performance, our expenses and our solvency margin over the previous year as well as the Board’s expectations of future performance. The rate of bonus can change every year and could in exceptional circumstances be nil.

All reversionary and interim bonus rates are net of charges. The bonus rate declared is the bonus rate you receive.

The Healthy Investment Ethical ISA was launched on 6 April 2019, therefore annual bonuses prior to 2019 are based on previous series of ISAs. Charges and guarantees are based on those applying to the Ethical ISA.

These are the bonus rates that have been applied:

2020 – 2.50%
2019 – 2.50%
2018 – 2.25%
2017 – 3.00%
2016 – 2.75%

Interim bonuses
Unlike declared reversionary bonus rates, which can never be changed, interim bonus rates can be increased or reduced by the Board at any point during the year. The current interim bonus rates are based on a prudent view of future investment performance, solvency and expenses over the year. Interim bonus is paid on all withdrawals made since the last reversionary bonus declaration and on death.

Terminal bonuses
A terminal bonus is an additional final bonus which may also be added on partial and full withdrawals or in the event of the death of the investor. The rate of final bonus can be changed at any time or can be withdrawn altogether.

If you die your capital is protected. The Healthy Investment stocks and shares Ethical ISA comes with important life cover to ensure that you receive back your initial investment plus all the bonuses that have been added to your ISA, less any withdrawals, on death.

We know that protecting your initial investment in the event of your death is important, especially to our older members.

MVRs are never applied on death. This means that if you die your estate is guaranteed to receive at least the amount you invested.

The level of bonus depends on investment performance, our expenses and our solvency margin over the previous year as well as the Board’s expectations of future performance.

The Key Information Document includes examples of what you might receive back based on different investment scenarios. It also helps you understand the nature, risks, costs, potential gains and losses of this product and to help you compare it with other products.

Download our latest Key Information Document for our ISA.

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