Easy Save
build a tax free lump sum the easy way...
- special Government tax break - in addition to your ISA allowance
- what is Easy Save?
- regular tax exempt savings
- enjoy a smoother performance
- GUARANTEED - a tax free cash lump sum when you cash in!
- GUARANTEED - get back at least what you've paid in!
- Life cover included - and no medical
- £20 worth of Marks & Spencer vouchers* PLUS an extra £10 when you take out a plan online!
special Government tax break - in addition to your ISA allowance
The Government allows you a special tax break - a tax-exempt savings allowance - when you save with a friendly society. This means you can save without paying tax on any growth in your savings - and without the tax man getting his hands on a penny of it at the end. This tax-exempt savings allowance is in addition to your ISA savings allowance. Any references to taxation are based on our understanding of HM Revenue and Customs practice, which is subject to change.
what is Easy Save?
It is a unitised with profits whole of life tax-exempt regular savings policy available to UK residents aged 16 to 74. At the end of the savings term your tax exempt savings plan will provide you with a tax-free cash lump sum.
regular tax exempt savings
Easy Save is a simple way to build a tax free lump sum. Make regular savings of between £15 and £25 a month or £160 - £270 a year for between 10 - 25 years, without the tax man getting his hands on a penny of it at the end.
enjoy a smoothed performance
Your money is invested in the engage With Profits Fund which invests in a mix of assets such as fixed deposits and shares and aims to smooth investment performance over the long term.
Use this link for more detail on the with profits fund
GUARANTEED - a tax free cash lump sum when you cash in!
Provided you have paid all your premiums over the plan term.
GUARANTEED - get back at least what you've paid in!
As long as you cash in your tax exempt savings plan within 28 days after the term end date. To qualify you must have paid in all premiums due for the policy term. If you cash in at any other time you may get back less than you invested. Don't forget that inflation will reduce what you can buy in the future with the lump sum.
When you surrender your plan, a MVA (market value adjustment) may apply which would effectively reduce the amount you receive. There may also be a tax liability if all payments have not been made to the plan. For more information on the guarantee and the MVA please see the key features.
If you cash in before you pay 1 year's premiums you will not get anything back.
Life cover included - and no medical
If you die during the term of the plan we will pay out the value of the policy or the amount of life cover - whichever is greater. The amount of life cover depends on the premium and when your premiums are due to cease. For more information see the Key Features document.
£20 worth of Marks & Spencer vouchers* PLUS an extra £10 when you take out a plan online!
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