Child - Tax Exempt Savings Plans
(Without Life Cover)


Whether you’re looking to start putting aside a regular amount for your kids, your grandchildren or for family friends, our Tax Exempt Savings Plan is a great way to start saving for their future. It’s a plan that’s unique to friendly societies like ours - and this version comes without the life assurance that’s often offered with this kind of plan.

Get into the saving habit


With our Healthy Investment Tax Exempt Savings Plan you’re committed to paying in the same amount every month - meaning that you can build the child’s savings gradually over time. You can invest anything from £10 up to a maximum of £25 a month - if you want to invest more, then our Standard Savings Plan might be better for you.

A guaranteed return


When you take out your policy we’ll tell you the absolute minimum the child will get when the plan matures (as long as you’ve kept up all of your contributions of course). This is called your sum assured. We also give regular bonuses every year and add them to the value of your policy. This can never be taken away – and you may also get a final bonus at the end of your term. The level of bonus added each year is not guaranteed and can change.

A tax exempt pay out


Only friendly societies are able to offer these kind of plans thanks to a unique government tax break. When the policy matures none of the money the child receives will be taxed. It's free of income and capital gains tax. The fund that the money is invested in also exempt of UK taxes.

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Your child’s money will be invested in the Healthy Investment Ethical With-profits Fund which includes a mix of different assets - all actively managed to maximise the potential for growth while carefully managing any risk.
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Choose how long you want to save for - anything from 10 years to 25 years. It’s the perfect way to save for a special birthday or starting university.

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Put a modest amount away, every month, for a child’s future. You’ll be growing their funds gradually, safe in the knowledge that they won’t be paying tax on the money the fund has made.

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Due to the tax advantages of investing in a friendly society Tax Exempt Savings Plan you can invest up to £25 per month.


Important Points


Any UK resident can invest in a Healthy Investment Tax Exempt Savings Plan (without life cover) providing the plan matures before they are 80.

You might consider this plan if you already have savings in a bank or building society and you are now looking to put some money into an investment for a child which has some risk but potentially higher returns and the proceeds of which are paid tax free

Save from as little as £10 per month or a maximum of £25 per month (or £270 per year).

You can have their Tax Exempt Savings Plan (without life cover) mature on a specific date, or simply select a term between 10-25 years, providing it matures on or after their 16th birthday.

Depending on the term you choose you should see this as a medium or long term investment.

Important Documents


 

Standard Savings Plan

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Tax Exempt Savings Plan

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If there's anything
you don't understand,
we're here to help.
Call Jerrol on 0161 762 5790


Alternatively you can
send us a message
using our contact form.

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Opening a Healthy Investment Tax Exempt Savings Plan (Without Life Cover) is really easy.

If you have any questions now or whilst you are applying just give us a ring or send us a message and we will help you.

  

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