Young Saver Plan
Anyone can save to build a nest egg for a child they love.
It’s easy to get started
Simply open a plan online or call our Member Services Team. You’ll be set up in no time.
Make their future brighter
Give a child you love the future they deserve by saving over the long-term for higher returns.
A plan that’s open to all
Anyone can open a Young Saver Plan; parents, grandparents, aunts, uncles or friends.
If you’d like to give a child in your life a great start, save for their future with this children’s saving plan. There’s also the added protection of sickness benefit for them, built into
- Save from just £7.50 to £100 a month and adjust things if your circumstances change
- If the child is off school with injury or illness, sickness benefit payments help cover costs
- With a minimum term of ten years, there’s plenty of time for their money to grow
Our Young Saver Plan not only provides a child with a lump sum worth more than a typical savings account, but the added benefits give you greater peace of mind for their future.
It’s easy to apply
We make life simple. Just complete our online form or call our Member Services Team.
Enjoy flexible payments
Convenient and effortless monthly Direct Debit payments put you in control of their plan.
See their money grow
We’ll keep you updated on how your plan is performing with annual bonus statements.
Change their future
The child receives a tax-free lump sum at 18, or after 10 years – whichever is later.
We’re a financial mutual that’s built on fairness. Everything we do is for our members, not shareholders, and all profits made are paid to you or re-invested for your benefit.
Our members love that we do things the right way
Nine out of 10 members would recommend us for the way we help their savings grow.
Helping our members benefit for almost 200 years
The world’s changed a lot since 1826 but our idea of fairness remains the same.
When you’re member-owned, it matters more
We take the financial future of every member personally, because you’re one of us.
Open a Young Saver Plan and get rewarded too. We’ll send you a Love2shop voucher code worth up to £50 when you make your first payment. See our terms and conditions.
Who can open a Young Saver Plan?
A Young Saver Plan is available to parents or guardians, extended family and friends. However, parental consent is required at application.
How much can I save in a Young Saver Plan?
The Young Saver Plan has a set annual maximum limit of £1,200
How is the child’s money invested?
We invest the money in our With-Profits Fund. This is a medium to low risk fund invested primarily in stocks and shares with the aim of achieving higher growth over the long-term.
How do I pay into each plan?
The Young Saver Plan requires monthly Direct Debits which cannot be stopped until the plan matures. Additional payments are not permitted.
How can I withdraw money from the plan?
All the money that is invested into our children’s savings plans will be held until the child who you are saving for turns a minimum of 18 years old. There are some exceptional circumstances and these can all be found in the Terms & Conditions included with the plan document.
For the Young Saver Plan, you’re able to take up to 25% of the value of the plan when the child turns 11, in order to help with the costs of sending them to school. Please contact Member Services on 0800 526 249 for more information.
- How the investment performs may vary during the term of the plan. Because of this the child could receive a higher or lower sum than you expect at the end of the plan and may not get back as much as you have paid in.
- The amount of bonus paid each year is related to the total amount of sickness benefit paid out, and the investment performance of Shepherds Friendly’s funds. Therefore the bonus will fluctuate over the term of the plan.
- If money is taken out of the plan at age 11 the child is unlikely to get back as much as we originally told you they would because of this early withdrawal.
- If the plan is stopped and money is taken out at any time before the end of the plan you may have to pay to do so. This cost could be more or less than the examples in the Key Information Document.
- Past performance cannot be taken as a guarantee of future returns. Inflation may affect the value of your investment in the future.
- Bonus rates vary from year to year depending on the performance of our investments and in some years we may not pay out any at all.
- HM Revenue and Customs may change the tax status in the future.
- If you end your plan before its maturity date, we will calculate the value of the investments that you hold to ensure that you leave the With-Profits fund with your fair share. If you have been invested through periods of poor investment performance, you may get back less than the current value of your plan.
When you take out an investment product with us your capital is at risk and you may get back less than you have put in. 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 that you read the full terms and conditions of this plan which are available from your financial adviser or by contacting us directly.
Please note: No advice has been given by Shepherds Friendly, and if you are in any doubt as to whether a savings plan is suited to your needs, then you should contact a financial adviser. There may be a charge for financial advice, and the cost should be confirmed to you before any advice is given.