Save for your son, daughter, grandchild, niece or nephew and enjoy a TAX-EXEMPT lump sum and sickness benefits of up to £400 a week
Our Young Saver Plan is designed so you can save from just £7.50 right up to £100 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 at age 18 or after 10 years if later. 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 £400 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 right up to £100 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 £400 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.
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.
Important things to consider
- You may get back less than you have paid in
- Early encashment penalties, which would reduce the amount of the final payout
- Bonus rates vary from year to year depending on the performance of our investments and the amount of sickness claims experienced. In some years we may not pay out any at all
- If money is taken out at age 11, this will reduce the amount the child receives at the end of the plan
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.