Save for your son, daughter, grandchild, niece or nephew and enjoy a TAX-FREE lump sum and sickness benefits of up to £300 a week
Our Young Saver Plan is designed so you can save from just £7.50 a month, knowing there won't be a penny in tax to pay on the growth of the fund or on the final lump sum payout on maturity in ten years or at age 18. You can increase or reduce your premiums at any time to suit you, and parents or guardians have the option of withdrawing up to 25% of the value when the child is aged 11.
The plan includes sickness benefits too, so if the child is ill and the parent or guardian has to take time off work to take care of them, they can claim up to £300 a week from the child's 5th birthday.
Just look at what the Young Saver Plan has to offer:
Flexible savings
Save from as little as £7.50 a month and vary your premiums to suit your circumstances.
TAX-EXEMPT growth and lump sum
You won't have to pay a penny in tax on the growth of the savings fund or on the final lump sum payout.
Sickness benefits for peace of mind
After the child’s 5th Birthday, the parent can claim up to £300 a week in benefits to help cover the costs, if the child is ill for over 4 weeks.
You can make a withdrawal at age 11
While the plan is designed to run for at least 10 years, parents or guardians have the option of withdrawing up to 25% of the fund when the child reaches age 11.
All references to taxation are to UK taxation and are based on Shepherds Friendly Society's understanding of current legislation and H M Revenue and Customs practice which may change in the future. Investment growth is by means of bonuses, the amount of which cannot be guaranteed throughout the term of the contract. Please ensure you read the full terms and conditions of this plan which are available from your financial adviser or by contacting us directly.
Saving with Shepherds Friendly offers you so much more
As Shepherds Friendly is a mutual organisation, you can save with confidence knowing that our primary duty is to our members, not to any shareholders, and that our special tax status offers you distinct savings advantages.