This section is dedicated to helping answer some of the common questions associated with Nottingham Friendly Society and our products. We understand that sometimes financial investments can be slightly confusing, but we hope we can clarify any myths or technical queries that you may have.

Please also check the ‘Jargon Buster’ section for a break down of various terms and phrases associated with Nottingham Friendly.

 

 

Frequently Asked Questions

  
 

 

 Select one of the Topic areas below or simply scroll down to view all the questions  

 

 - Membership

- Bonus Rates

 

 

Membership

  

 

 

  
Question: How do I become a member?  
  Answer: By taking out any savings and/or investment product with the Society. Members also become eligible for our Additional Benefits scheme. Check our Member Benefits in the 'ABOUT US' section for more information  
   
Question: What is the Additional Benefit scheme and how do I claim?  
  Answer: Please click here for Additional Benefits and to download a claim form  
   
  Question: What does "tax free" or "tax exempt" mean?  
Answer: For the tax free or tax exempt products in our range we invest policyholders’ premiums, into a tax exempt fund. This fund pays no tax on its income or capital gains. The exception to this is dividend income received from investments in UK company shares, from which corporation tax at a current rate of 10% is deducted. The policy proceeds you ultimately receive on our tax free or tax exempt products are free of any personal income tax or capital gains tax liability, whatever your marginal rate of tax.  
 
Bonus Rates  
Question: What bonus rates does the Society pay?  
  Answer: Reversionary bonus rates for 2005 range from 2% pa to 5% pa, Interim bonus rates for 2006 range from 2%-5%, Terminal or "final" bonuses are currently also paid on qualifying policies when they mature.  
   
  Question: When are bonus rates declared?  
  Answer: In April of every year, for the preceding year.  
   
  Question: When are member bonus statements sent out?  
  Answer: In June/ July of every year.  
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My Policy  
  Question: How do I inform the Society of a change of address?  
Answer: Please print off and send in a CHANGE OF ADDRESS FORM OR SEND US AN EMAIL with your policy number as well as old and new address details, or simply write to us informing us of the change.  
   
Question: Are the Society's products subject to age restrictions?  
Answer: Each product is subject to age restriction, please check 'Our Products' for respective age ranges.  
   
Question: Where can I see how my policy is performing?  
  Answer: On the annual bonus statement, sent out in June/ July each year.  
     
Question: How can I change my Bank details?  
Answer: Please download and print off our DIRECT DEBIT Mandate Form and return it to the address below.  
   
Question:How can I change my Direct Debit details?
Answer: For any changes to Direct Debit details, please contact our Finance office on 0115 981 4786
 
Question: Can I increase/ decrease my premiums?  
Answer: Unfortunately no. Once your policy is activated the premiums remain constant throughout the life of the policy (this excludes Mini Stocks & Shares ISA). Please check the product information for details.  
   
  Question: How can I pay the premiums on my regular savings plan?  
  Answer: Policy premiums may be paid by Direct Debit or Cheque.  
     
Question: What should I do if I wish to cash in my policy?  
Answer: Please contact our Finance team on 0115 981 4786 with your policy number.  
   
Question: What should I do if I can no longer afford my premiums?  
Answer: If premiums have been paid for at least 2 years, the policy will have a "cash in" value. Please contact our Finance team on 0115 981 4786 to discuss your options.  
   
  Question: Can I cash in my regular premium policy at any stage?  
  Answer: Members may surrender their policy for a cash sum at any time after 2 years.  
   
  Question: Can I cash in my single premium policy at any stage?  
  Answer: Members may surrender their policy for a cash sum at any time.  
   
  Question: What documentation do I need to claim my maturity proceeds?  
  Answer: You need to send in the Policy Document & the completed 'Maturity Proceeds Instruction' form that is sent to you a few weeks prior to your policy maturing.  
   
  Question: How will I get paid my maturity proceeds?  
  Answer: Maturities will be paid by cheque, or directly into your bank account if requested.  
   
Nottingham Friendly Site
     
Question: How do I print off content from the web site? (excludes PDF files)
  Answer: In order to print off regular pages from the website effectively, without losing any wording or detail, click File at the top of your screen, then click Page Setup. At the foot of the sub page, under Orientation, click Landscape, then close the sub page. Then click on File again, then Print as normal. This will ensure no word or detail is left off the page. Exact process may vary on Macintosh computers.
         
  Question: Why can't I see documents marked PDF?
 

Answer: Documents marked PDF, e.g. Key Features and Application forms, require your computer to have Adobe Reader installed and running. If your computer does not have this software, you may download it for free by clicking the link below.
         
  Question: Can I apply online?
  Answer: The product applications cannot be submitted online, however PDFs are available of all our application forms and key features documents. You can download these PDFs and print as many as you require. Once the application forms are completed, these should be posted to: Nottingham Friendly Society, 29 Bridgford Road, West Bridgford, Nottingham, NG2 6AU.
 
 
 
Would you like our terms explained? Check our 'Jargon Buster'

 

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).