TRACKER SELECT SAVINGS PLAN...

  • No health or medical questions
  • From as little as £25 per month
  • Qualify for 'Additonal Benefits'
   

What is it?

A Friendly Society, Unit Linked savings plan designed to run for at least ten years, and to provide a guaranteed lump sum on death.

 

   

Where will my money be invested?

Your money is invested in your choice from our range of Unit Funds. The premiums you pay, after charges have been deducted, are used to purchase Units in the Funds you have selected.

The investment performance of the Unit Funds will determine the value of your plan at any time.
 

How much can I invest?

From £25 each month up to a maximum of £200 per month.

   

Who is it for?

The policy is suitable for a child or adult up to the age of 70 next birthday, who is UK resident and already has savings in a bank or building society, who wants to save by monthly subscription over the medium to long term, and is prepared to accept an element of risk concerning fluctuations in return.
 

What are the costs?

Charges for both the Adult and the Child policy are the same.

The Society makes an Annual Management Charge, equivalent to 1.5% per annum of the fund and a Policy Fee of £1.50 is deducted monthly.

The Fund Management Company makes a charge of up to 0.3% per annum.

   

What do I get back?

An illustration based on the chosen premium will be provided automatically when you take out your policy. The illustration is not a guarantee of what you will get back, it is only a guide.

The amount you will get back will depend on the performance of the underlying investments within the funds you have chosen.
 

What if I stop making the savings payments?

If you stop paying premiums, but then later wish to resume, you have 12 months to pay the outstanding premiums. Units will be allocated at the price ruling when the arrears are paid. If you do not pay the outstanding premiums, then:

  • If 12 or fewer months premiums have been paid, the policy will be cancelled without value;
  • If 24 or more months premiums have been paid, or if the unit value following the due date of the last unpaid premium exceeds £500, the policy will be made “paid up”. No further premiums will be payable, the units allocated will remain attaching and the guaranteed sum assured will be reduced.
  • If more than 12 but less than 24 months premiums have been paid, and if the unit value is less than £500, you may claim the cash–in value (see below).
 

What about Tax?

Nottingham Friendly Society will pay tax on the income and gains of the funds investments. The proceeds of the policy paid to you when you cash in on or after the 10 th anniversary, or to your estate should you die during the term of the policy will be free of income and capital gains tax. If you cash in within the first 10 years of the plan, an income tax liability might arise, based on the profits earned from the plan. If you die during the term of the plan, the proceeds of the policy will be paid to you or the child’s estate and may be subject to Inheritance Tax.

Taxes and legislation may change in the future. The information given here is based on our understanding of the current situation, at the date of publication. If you have any queries or concerns about your personal tax position, we recommend you consult your tax or financial adviser.
 

Risk Factors

This Simple Guide should be read in conjunction with the key Features Document for an explanation of the risks inherent in this policy.

 

Are there any other benefits ?

The Society operates a Discretionary Fund, which is intended to help members meet educational, dental, optical and other medical expenses. Policy holders become members of the Society and as such can claim up to £30 every year (per member not per policy), at the discretion of the Society, after one year of membership.

This additional benefit is free of charge, subject to meeting minimum investment criteria, but the scheme may be changed or withdrawn at any time.
 

Do I need to provide any other information?

In order to comply with Money Laundering legislation, the Society may require confirmation of your identity and address. We may therefore ask to see documents such as a passport or driving license and utility bills or bank statement before issuing a policy.

Proof of identity may also be required at other times, including on encashment of the policy.
 
 
What would you like to do now?

Please note Key Features must be read and agreed in order to receive a quote or to apply.

*Some of the features on this page (PDF files) require Adobe Reader. If your computer does not already have this software, you may download this for free by clicking the icon below

 

Want to save Tax Free for children? Check our SECOND STEP

 

Or go to:

Our Products

 

 

 

REGISTERED OFFICE: 29 BRIDGFORD ROAD, WEST BRIDGFORD, NOTTINGHAM, ENGLAND, NG2 6AU TEL: (0115)  9814786  FAX: (0115) 9455890

Website: www.nottinghamfriendly.co.uk  Email: sales@nottinghamfriendly.co.uk

Nottingham Friendly Society is a brand name of Nottingham Oddfellows Assurance Friendly Society Ltd, an incorporated Friendly Society, registered in the UK No. 596F.  Authorised and regulated by the Financial Services Authority, (Register Number 110033).