Products Archive - POIS

Junior ISA Top Ups

An ISA for 
The next generation

For any parent, knowing your child has a secure future is absolutely priceless. By topping up your child’s Junior ISA, you are making the most of the £9,000 annual allowance and helping towards their future. When they’re 18 they will have a savings pot they can put towards the next step in their life.

Why top up your child’s Junior ISA?

A simple, affordable way for you to save up to £9,000 this tax year for your child.

Make regular payments from just £26 per month, lump sums of at least £500 and top ups of at least £50. Family and friends can pay in too – making a top up a perfect alternative for birthday and Christmas presents.

Your money is invested in a Foresters Friendly Society fund which gives you access to investment types you cannot get directly.

Access to membership benefits including discretionary grants to help cover the cost of things like higher education and healthcare costs.

How would you describe POIS to someone who had never heard of them?

“A very personal, customer friendly service which allows you to take advantage of additional savings opportunities with a number of additional benefits.” POIS Member

“A great way to save for the future.” POIS Member

READ MORE

Ready to make the most of your child’s ISA allowance? Top up today!

Added value for your child – Member Benefits

Taking out a Junior ISA is only the start. By doing so, your child will become part of the POIS family which is now a part of Foresters Friendly Society, a well-established UK friendly society. This means they can enjoy some wonderful, unique benefits such as discretionary grants to help with higher education costs when the time comes and to support life’s ups and downs. In 2023, we gave back over £1.72 million to our POIS and Foresters members in the form of discretionary grants and charitable donations.

Find out more

Common questions

Can I still open a Foresters Friendly Society Junior ISA?

Junior ISA’s are no longer available to open with Foresters. But on the plus side, we do offer other Children’s saving plans such as our Child Tax Exempt Savings Plan which can be used to save for their future.

Can I transfer an existing Junior ISA to Foresters Friendly Society?

We no longer accept transfers of Junior ISA’s.

Can I open more than one Junior ISA?

Your child can have a Cash Junior ISA, a Stocks and Shares Junior ISA, or both.

If they have both, you must still stay within the annual Junior ISA allowance every year. You don’t get two allowances because you have two ISAs.

A Junior ISA is also different to an adult ISA, where adult ISAs allow you to have more than one ISA account from different tax years, your child can only hold one cash Junior ISA and one stocks and shares Junior ISA. So if your child already has £5,000 invested in a stocks and shares Junior ISA and you would like to open a new stocks and shares Junior ISA with Foresters, you will need to transfer the £5,000 into the new plan.

Are there any charges?

There is an Annual Management Charge of 2% of the value of your Junior ISA which covers the costs of administering the Junior ISA for you. Charges are deducted upfront before any bonuses are declared, so there are no additional charges for you to pay.

It is possible that the charge could change in the future, but Foresters Friendly Society promise it will never exceed 3% of the value of your Junior ISA in any one year. Take a moment to read the relevant Junior ISA Key Information Document and Important Information for more information about charges.

Where is my money invested?

Your money is invested in Foresters Friendly Society’s With Profits Order Insurance Fund. Depending on how the fund performs, we aim to add annual bonuses and a final bonus to your child’s Junior ISA. This is to boost their plan’s value. The addition of bonuses is not guaranteed.

You’ve worked hard for the money you invest, so extra good care is taken with it. That’s why your money is spread across a number of different types of investments to help minimise risk and increase the potential returns. By doing this your money can benefit from exposure to a range of asset classes which may include equities (company shares), fixed interest bonds (government and company), property and cash.

How much interest does the Junior ISA plan pay?

As your money is invested in the Foresters Friendly Society Order Insurance with profits Fund, rather than paying interest the value of your child’s Junior ISA has the potential to grow through the addition of bonuses. What growth the Junior ISA receives will depend on how well the fund performs.

The following annual bonus rates have been declared for the Junior ISA:

Year Annual Bonus Rate
2022 1.25%
2021 1.25%
2020 1.25%
2019 1.75%
2018 1.75%

The annual bonus rate is applied to how much you have invested plus any annual bonuses that have been previously added.

Please remember that bonuses are not guaranteed. Your child may also not get back the full amount originally invested, dependent on the investment conditions at withdrawal.

Please read Foresters Friendly Society’s Principles and Practices of Financial Management (PPFM) to find out more about the addition of bonuses and how we manage our fund.

The product design may vary to best meet the needs of policyholders which may affect the timing and size of future bonuses. Therefore the bonus rate provided above is for information purposes only and should not be considered an indication of likely future performance.

Can withdrawals be made from a JISA?

No – the Junior ISA is designed for long-term growth and legislation states that no one can access the funds before the child turns 18.

What happens when the child turns 18?

Once your child turns 18 they will be able to access their Junior ISA savings. Their lump sum can either continue to be invested as an adult ISA, or the money can be released and used for whatever they need it for. University fees, for example, saving towards a deposit on a house, or even buying their first car.

What would happen if the person paying contributions passes before the child reaches 18?

As the plan is held in the child’s name and is designed to allow anyone to pay into it, the Junior ISA will continue until the child turns 18.

Ways to top up a Junior ISA

1

Online

Set up a regular monthly direct debit, or use your debit card to make a one-off, secure payment. Top up online now.

2

By phone

Call us on 0800 622 417 and we can set up a regular monthly direct debit, or take a one-off payment from your debit card over the phone.

 

TOP UP TODAY

We’re here if you need help or have any questions

If you have any questions that we have not yet covered or just want to talk your application through, please give us a call. Our friendly UK based team are on hand to make things as easy as possible (lines are open Monday to Friday 9 am to 5 pm).

Call free on 0800 622 417

Lifetime ISA Top Ups

Savings that work harder with a
25% government bonus

We all dream about how we would like life to be in the future but making it a reality can be tricky. Don’t forget to top up your Lifetime ISA (also known as a LISA) and the government gives you a very healthy 25% monthly bonus on whatever you’ve saved. The question is, why wouldn’t you make the most of your £4,000 yearly allowance!

Why top up your Lifetime ISA?

Your Lifetime ISA will receive a 25% government bonus every month, up to a maximum of £1,000 each tax year (a tax year runs from April 6 to April 5 the following year).

Save up to £4,000 every tax year from £50 a month or invest a lump sum of at least £500. You can top up your savings with amounts of £250 or more too.

Your money is invested in a Foresters Friendly Society fund which gives you access to investment types you cannot get directly.

You’ll also get access to membership benefits including discretionary grants to help cover the cost of things like higher education and healthcare costs.

Rory and Rosemary, Surrey

“We took out a Lifetime ISA to help boost our retirement funds. It appealed to us as we feel the state pension and workplace pensions may not be sufficient on their own. We didn’t want to miss out on the additional money from the government with the plan’s 25% bonus!

As editor of the Foresters member magazine, and with Rosemary running our local Foresters branch, it’s been great to get involved with the member events that take place too.”

READ MORE

Ready to make the most of your Lifetime ISA allowance? Top up today!

Added value for you – Member Benefits

Taking out a Lifetime ISA is only the start. By doing so, you become a welcome member of the POIS family which is now a part of Foresters Friendly Society, a well-established UK friendly society. This means you can enjoy some wonderful, unique benefits such as discretionary grants to help with dental and optical costs.  In 2023, we gave back over £1.72 million to our POIS and Foresters members in the form of discretionary grants and charitable donations.

Find out more

Common questions

Can I still open a Foresters Lifetime ISA

Lifetime ISA’s are no longer available to open with Foresters. But on the plus side, we do offer other saving plans which can be used to save for your future. Find out more about our Tax Exempt Savings Plan and our Saving and Investment Plan.

 

Can I transfer an existing Lifetime ISA

We no longer accept transfers into Lifetime ISA’s

What is a Lifetime Individual Savings Account (Lifetime ISA/LISA)?

Whether you’re putting plans in place for your first leap into home ownership, or thinking about the type of retirement you’d like to have, a Lifetime ISA could be just what you need to get started. It allows you to pay in up to £4,000 every tax year into a Cash LISA, or a Stocks & Shares LISA like the one we offer (or you can split the allowance between both). The government will then add a 25% bonus on the money you pay into your LISA every month.

It gets better. As your money will be invested in Foresters Friendly Society’s With Profits fund, it could also benefit from an annual bonus each year, plus a potential final bonus when you withdraw your money. Unlike the government bonus, these bonuses are not guaranteed.

To open a Lifetime ISA you need to be aged 18 to 39 and a UK resident for tax purposes

How long can I save with a Lifetime ISA?

Although you need to be under 40 to open a LISA, once opened you can pay into the plan until you turn 50 at which point no more contributions can be made. Government bonuses will be paid on any money you pay into your Lifetime ISA up until the age of 50 and we aim to add bonuses dependent on the performance of the Foresters’ with profits fund throughout the plan’s duration.

If you’re saving for retirement your savings can be accessed from the age of 60.  If you’re saving for your first home, your savings can be accessed for that purpose at any age.

As the Lifetime ISA should ideally be held for a number of years, you may find that some of the rules and regulations covering their operation and tax status may change in the future. You won’t pay tax on your investment, but don’t forget that tax is automatically deducted from share dividends and that tax cannot be reclaimed. The addition of Foresters bonuses is not guaranteed.

How much can I pay into a Lifetime ISA?

You can pay in regular monthly amounts by Direct Debit from £50 or you can invest a lump sum of at least £500. After that you can make top ups with lump sums of at least £250.

Alternatively, you can make a mixture of both regular and lump sum payments into the plan. Just remember your total contributions must not be more than £4,000 per tax year.  As LISAs are designed to be held for a number of years, the limit on annual contributions may change but we will keep you updated if it does change in the future.

How does buying a home work with a LISA?

It’s simple, but remember, your Lifetime ISA can only be used when you’re buying your first home. When the purchase is proceeding, your money that’s in the Lifetime ISA, including all government and possible Foresters’ bonuses, will be passed directly to the solicitor or licensed conveyancer who is acting on your behalf. If, for some reason, the purchase of the property doesn’t complete, the solicitor will return the money and it will be reinvested back into your plan at no loss to yourself.

Where will my money be invested?

Your money, along with the government bonus, will be invested into the Foresters Friendly Society With Profits Order Insurance Fund. The fund’s goal is to deliver growth over the medium to long term. There is the potential for annual bonuses and a maybe even a final bonus to be added to your Lifetime ISA by Foresters in addition to the government bonus, but this depends on how well the fund performs and cannot be guaranteed.

The following annual bonus rates have been declared by Foresters for our Lifetime ISA. These are paid in addition to your 25% government bonus:

Year Annual Bonus Rate
2022 1.25%
2021 1.25%
2020 1.25%
2019 1.75%
2018 1.75%

The annual bonus is applied to the amount invested, less any withdrawals you may have made to your Lifetime ISA – plus any previous bonuses that have been added.

Please note that bonuses are not guaranteed. And you may not get back the full amount you invested originally, dependent on the investment conditions at the time of withdrawal. Inflation will affect what you can buy when you cash-in your LISA.

Please read our Principles and Practices of Financial Management (PPFM) to find out more about the addition of bonuses and how Foresters manage the fund.

From time to time, the product might change slightly to meet the needs of policyholders. This may affect the timings and amount of any bonuses in the future. Therefore, the above bonus rate is provided for information purposes only. It shouldn’t be considered as an indication of likely future performance.

How are the bonuses from the government paid?

The money that you pay into your Lifetime ISA in any one tax year will receive a 25% government bonus which is paid monthly. So let’s say you pay £200 a month into your LISA; each month you will receive a £50 government bonus as well. The payment of these bonuses is managed for you, so you don’t need to do a thing.

Will I have to pay any charges with the Lifetime ISA?

There’s an annual management charge to pay, which covers the cost of managing the LISA for you. This is 2% of the value of your Lifetime ISA and will be deducted before any annual bonuses are added to the plan.

We promise it will never exceed 3% of the value of your Stocks & Shares LISA in any one year. These charges cover our costs for managing the LISA for you.  For more information about charges, please see the Lifetime ISA (LISA) Key Information Document and the Important Information.

What happens if I decide not to use my LISA to buy a home or for retirement?

Good question. Although the LISA is designed for you to save for your first home or later life and retirement from age 60, you can still cash it in for other reasons. However, in most cases this would incur a 25% government charge, applied to the whole amount of your withdrawal.

This effectively returns the government bonus to them, and includes any growth or other bonuses received on that money. If you do wish to make withdrawals, then we recommend you read the Lifetime ISA Important Information for further information.

Ways to top up your Lifetime ISA

1

Online

Set up a regular monthly direct debit, or use your debit card to make a one-off, secure payment. Top up online now.

2

By phone

Call us on 0800 622 417 and we can set up a regular monthly direct debit, or take a one-off payment from your debit card over the phone.

 

TOP UP TODAY

We’re here if you need help or have any questions

If you have any questions that we have not yet covered or just want to talk your application through, please give us a call. Our friendly UK based team are on hand to make things as easy as possible (lines are open Monday to Friday 9 am to 5 pm).

Call free on 0800 622 417

Stocks & Shares ISA Top Ups

An ISA that
Works as hard as you do

Saving regularly can make a big difference over time, and with an ISA your savings are tax free too. Our Stocks & Shares ISA has flexible savings options and offers potential growth thanks to the possibility of bonuses. Make the most of your £20,000 annual allowance and whatever you’re planning could be a reality sooner than you thought!

Why top up your Stocks & Shares ISA?

This Stocks & Shares ISA is perfect for medium to long-term savings and is designed for people looking to build savings for the future. Your savings have the potential to grow thanks to annual and final bonuses.

Save up to £20,000 in the current tax year through regular saving from just £50 per month, lump sums of at least £500 and top ups of at least £250.

Your money is invested in a Foresters Friendly Society fund which gives you access to investment types you cannot get directly.

Access to membership benefits including discretionary grants to help cover the cost of things like higher education and healthcare costs.

How would you describe POIS to someone who had never heard of them before?

“It is somewhere you can put money where it’s safe, and you get a good return on it. We have used it for our children too.” POIS Member

Read More

Ready to make the most of your ISA allowance? Top up today!

Added value for you – Member Benefits

Taking out a Stocks & Shares ISA is only the start. By doing so, you become part of the POIS family which is a part of Foresters Friendly Society, a well-established UK friendly society. This means you can enjoy some wonderful, unique benefits such as discretionary grants to help with dental and optical costs. In 2023, we gave back over £1.72 million to our POIS and Foresters members in the form of discretionary grants and charitable donations.

Find out more

Common questions

Can I still open a Foresters Friendly Society Stocks & Shares ISA

Stocks & Shares ISA’s are no longer available to open with Foresters. But on the plus side, we do offer other saving plans which can be used to save for your future. Find out more about our Tax Exempt Savings Plan and our Saving and Investment Plan.

Can I transfer an existing Stocks & Shares ISA to Foresters Friendly Society?

We no longer accept transfers of Stocks & Shares ISA’s.

What is the difference between a Cash ISA and Stocks & Shares ISA?

Cash ISAs are basically savings accounts available to anyone aged 16 and over, where all the interest paid is free of income tax. Unlike a Stocks & Shares ISA the value of your capital can’t fall. There are two types of Cash ISAs:

  • Instant Access – you have direct access to your money and can make withdrawals whenever you need to.
  • Fixed Rate Cash ISAs – encourage you to lock your money away for a set period of time. Generally, the longer it’s in there, the more potential there is for a higher rate of interest.

A Stocks & Shares ISA, like this one, is designed more for longer-term investments and is available to anyone aged 18 years old and over. You may find it delivers a better return over time than a Cash ISA because it’s invested in a range of ways – but that all depends on the performance of the asset types your money may be invested in. The value of your investments can fall as well as rise and you may not get back the full amount originally invested.

Where will the money be invested?

The money you pay into the Stocks & Shares ISA is invested in Foresters’ With Profits Order Insurance Fund. The fund’s aim is to deliver investment growth for you. Dependent on the performance of Foresters’ fund, there is the potential for annual bonuses and a possible final bonus to be added to your ISA.

Once invested, your money is spread across various types of investments including property, equities, cash and UK government bonds. This is done to reduce risk and increase the potential for healthier returns. You don’t need to be an investment expert – fund managers will handle the fund for you.

For the latest information on the investment strategy for Foresters’ With Profits fund, please see the Principles and Practices of Financial Management (PPFM).

What interest does the plan pay?

Rather than receiving interest your investment has the potential to grow through the addition of bonuses which depend on the performance of Foresters’ Order Insurance Fund. Any profits may be used to award an annual bonus to your ISA and possibly a final bonus when you eventually withdraw your money.

Foresters’ Order Insurance Fund has paid annual bonuses on the Stocks & Shares ISA for the past 19 years.

  • In 2022 the annual bonus rate was 1.25%.

This annual bonus is applied to the amounts you have invested, less the amounts you have withdrawn, and any annual bonuses that have been previously added.

We recommend you read our Principles and Practices of Financial Management (PPFM) to find out more about the addition of bonuses and how Foresters’ Order Insurance Fund is managed.

From time to time, the product might change slightly to meet the needs of our policyholders. This may affect the timings and amount of any bonuses in the future. Therefore, the above bonus rate is provided for information purposes only. It shouldn’t be considered as an indication of likely future performance.

Will I have to pay any charges?

Every year there is a management charge to pay – it’s set at 2% of your ISA’s value. It’s there to cover our costs in administrating the plan for you. We’ll always deduct the charge before we declare any bonuses. This way there are no additional fees for you to pay and our bonus rates are declared after the charge has been taken. Although this charge could increase in time, we guarantee it’ll never be more than 3% of the value of your ISA in any one year.

For more details, please read the relevant Stocks & Shares ISA Key Information Document and Important Information.

Can I withdraw money from my Stocks & Shares ISA?

You can make regular and one-off withdrawals just as long as the remaining balance of your ISA does not fall below £500. After two years you can make regular withdrawals at fixed points in time such as monthly or quarterly, and one off withdrawals can be made at any time.

Please take a few minutes to read the Important Information document for further information on making withdrawals.

Can I cash-in my ISA?

As a with profits investment, your ISA will benefit from the potential for growth the longer it is kept invested. However, you can cash it in at any time. What you get back will depend on how much you’ve invested, any amounts you’ve withdrawn and any annual bonuses.

In good investment conditions you may also receive a final bonus. However, in less favourable conditions, a Market Value Reduction (MVR) may be applied which will reduce the ISA’s value and may mean you get back less than was paid in.

For more details please take a few minutes to read the Important Information document.

Ways to top up your Stocks & Shares ISA

1

Online

Set up a regular monthly direct debit, or use your debit card to make a one-off, secure payment. Top up online now.

2

By phone

Call us on 0800 622 417 and we can set up a regular monthly direct debit, or take a one-off payment from your debit card over the phone.

 

TOP UP TODAY

We’re here if you need help or have any questions

If you have any questions that we have not yet covered or just want to talk your application through, please give us a call. Our friendly UK based team are on hand to make things as easy as possible (lines are open Monday to Friday 9 am to 5 pm).

Call free on 0800 622 417

Tax Exempt Savings Plan

Affordable savings today,
For a tax free tomorrow

You’ve paid taxes all your life. Now it’s time for a little break. Our Tax Exempt Savings Plan helps you to save a tax-free cash sum for your future. The best bit? You can use it to do all those things you’ve always dreamt about.

What is a Tax Exempt Savings Plan?

Whether it’s a holiday of a lifetime, buying a new car, giving the kids a little nest egg or finally treating yourself to that conservatory, you can use the money from your plan for whatever you want. And it’s all the sweeter knowing it’s tax-free.

Why choose a Tax Exempt Savings Plan?

A 10 year savings plan. At the end of the 10 years, you can either cash in your plan, extend it for a further 10 years or leave it invested. It’s your choice!

Available to all UK residents aged 16 to 74 who are not already investing their £25 per month tax exempt savings allowance with a friendly society.

An additional tax-free allowance on top of your annual ISA allowance. A simple way to save regularly for your future by a monthly Direct Debit of just £25.

Life cover automatically included at no additional cost to you.

By saving with POIS, you’ll become a member of a mutual society. We differ to other financial services providers as we provide additional benefits to our members. You will have access to membership benefits including discretionary grants to help cover the cost of things like higher education and healthcare costs.

How would you describe POIS to someone who had never heard of them before?

“They are a mutual company who look after their members, their policyholders, you can trust them 100 per cent and I would have no hesitation in recommending them to friends and family.” POIS Member

“It is friendly, reliable and trustworthy.” POIS Member

Read More

See how much you could save

A real-life example

A £25 per month Tax Exempt Savings Plan which commenced in August 2013 with a 10 year term provided a payout of £3,568.35 at maturity. This is an average annual return of 3.4% and a total return of 19%, after administration fees and charges.

The above graph is provided for information purposes. Past performance should not be seen as a reliable indicator of future results. The value of holdings within the fund can fall as well as rise, and you could get back less than you have paid into the plan. As the fund holds overseas assets, the Sterling value of these assets may rise and fall as a result of exchange rate fluctuations.

Ready to start making tax-free savings? Apply today!

Investing in the POIS Flexible Growth Fund

The POIS tax exempt plans invest in our Flexible Growth Fund. This is an actively managed fund with the aim of achieving long term growth, while spreading risk across a wide range of investments. It invests mainly in shares, both UK and overseas, along with convertible bonds.

When you invest with us your money buys units or shares in a fund and the units in each fund have a daily value which can be used to work out the current overall value of your plan.

To work out the value of your plan simply take the number of units your plan currently holds, and multiply this number by the current Unit Price for that plan.

POIS Flexible Growth Fund

Tax Exempt Saving Plan Children’s Tax Exempt Plan

17/05/2024

Unit Price (pence):

144.00

Change from previous day:

+0.07%

Added value for you – Member Benefits

Taking out a Tax Exempt Savings Plan is only the start. By doing so, you will become part of the POIS family which is now a part of Foresters Friendly Society, a well established UK friendly society.  This means you can enjoy some wonderful, unique benefits such as discretionary grants to help you cover the cost of things like higher education, dental and optical costs. In 2023, we gave back over £1.72 million to our POIS and Foresters members in the form of discretionary grants and charitable donations.

Find out more

Common questions

I’m a Royal Mail employee, can I pay contributions direct from my pay?

Yes, if you are a Royal Mail employee, you can open a Tax Exempt Savings Plan through the My Bundle+ platform and your contributions will be taken direct from your pay.

What if I already have an ISA?

A Tax Exempt Savings Plan like this can be held in addition to any other tax free plans, such as ISAs.  It provides an additional £300 per year (£25 per month) tax-free savings allowance that you can use.  Any returns will be paid free of capital and income tax.  What’s not to like!

You should be aware that if you cash the plan in early, there may be some tax to pay on its returns.

Can I pay a lump sum into the plan?

It is not possible to make a lump sum payment into the POIS Tax Exempt Savings Plan.

Where will the money be invested?

The monthly contributions you make will purchase units in the POIS Flexible Growth Fund. The aim of the fund is to achieve long term growth, while spreading risk across a wide range of investments. It invests in UK and overseas shares, along with Global Convertible Bonds. It is an actively managed fund which means our expert fund managers make decisions about how to invest the fund’s money as opposed to the fund just following a market index.

The value of holdings within the fund can fall as well as rise, and you could get back less than you have paid into the plan. As the fund holds overseas assets, the Sterling value of these assets may rise and fall as a result of exchange rate fluctuations.

The price of each unit is based on the value of the fund, divided by the number of units in issue. The number of units bought will depend on the price of those units on the day the units are bought.

The price of the units may go down as well as up and you may get back less than you have paid in.

For more information on the fund please see our Fund Information.

Are there any charges?

As with any investment, there are costs in managing the plan on your behalf. These include an annual management charge and a monthly administration charge which are deducted from the value of your plan. For more information about charges, see the  Tax Exempt Savings Plan Key Information and Important Information documents.

What is life cover?

One benefit of the Tax Exempt Savings Plan is that life cover is automatically included at no additional cost to you. This means that if you pass away before the plan ends then your estate will receive a cash payout. You won’t have to answer any medical questions when applying for the plan making it simple for you to take out but you will benefit from this type of cover.

The amount of life cover is calculated as 75% of the contributions you are due to make over the initial 10 year term.

If you are aged 56 or over when you apply, the amount of life cover is reduced by 2% for each year. For example, if you are 56, you will receive life cover based on 73% of the contributions you are due to make over the initial 10 year term. If you are 57 you will receive 71%.

In all cases, the life cover is available as long as monthly contributions continue to be paid.  If the value of the plan is higher than the life cover, the plan value will be paid to the estate.

What if my circumstances change and I can no longer pay into my plan consistently?

We understand that the challenges posed by the cost-of-living crisis may impact your ability to save and invest. Although we’d recommend you keep up with your monthly contributions for the plan’s full duration where possible, we understand that this may not be as easy as it once was.

This is where we provide some flexibility with your existing plan contributions.

If you miss some monthly contributions into the plan, you have 13 months to pay the missing contributions, altogether in one lump sum, and continue paying into the plan without the need to close the plan entirely.

If, at the end of the 13 months, you have not made up the missing contributions there will be various scenarios that could apply. Please bear in mind that if you need to stop paying into the plan, your life cover will end, so, if you pass away, the payment returned to your estate will be the value of the plan. Please see the Important Information  for further details.

What happens if the plan is cashed in early?

If the plan is cashed in before its 10th anniversary, a charge will be deducted before the cash sum is paid to you.  The amount of the charge will depend on how long you have held the plan, as shown in the Important Information document.

In the early years, it is possible the plan value may be less than the surrender charge due.  In that instance, no plan value will be paid out and no further charge will be payable.  If a payout is returned to you, you may be liable for tax on any growth.

What happens if I pass away?

If you were to pass away the value of the plan, or the life cover if higher, will be paid. This will normally form part of your estate and may be subject to Inheritance Tax, depending on your individual circumstances.

If you wish, you can nominate a beneficiary to receive the value of your plan if you pass away, providing you have kept your contributions up to date.  This can help to make a difficult time more bearable for your dependents.  They can receive up to £5,000 immediately following your death.  This can be done without having to wait for your estate to be administered, which can often be a lengthy process at a difficult time. Any returns over £5,000 would become part of your remaining estate and have to wait for probate.

I’m not sure if the Tax Exempt Savings Plan is right for me. What should I do?

If you’re unsure as to the suitability of this plan, you should seek advice from a Financial Adviser. Of course, you may have to pay for this advice.

Ready to get started? APPLY ONLINE

We’re here if you need help or have any questions

If you have any questions that we have not yet covered or just want to talk your application through, please give us a call. Our friendly UK based team are on hand to make things as easy as possible (lines are open Monday to Friday 9 am to 5 pm).

Call free on 0800 622 417

A simple ISA to
make saving child’s play

They grow up so fast, don’t they? One minute they’re crawling around on all fours, the next they’re asking to borrow the car keys. With a Junior ISA (JISA) their money can grow as they do, helping you to give them the best start in life.

Simple

child savings

plan

Save up to

£9,000

each year

Open from only

£50

a month

potential
growth with
bonuses

We all dream about giving our little ones the best start in life so they have a strong foundation to build on. A Junior ISA (JISA) can help to build a financial future for your children. Once opened by a child’s parent or guardian, anyone can set up the Direct Debits or add lump sums. Children aged 16 and 17 can even open a Junior ISA themselves.

Our Junior ISA is provided by Foresters Friendly Society, which owns POIS, and can be opened by setting up a monthly Direct Debit, investing a lump sum or by transferring other ISA savings or a Child Trust Fund. It is classified as a Stocks and Shares ISA. 

Request a pack to find out more about the Junior ISA Request a PACK

Why choose the Junior ISA?

A simple, affordable way for you to save up to £9,000 this tax year for your child.

A JISA is available for children aged 0 – 18. However children aged 16 and 17 can open a plan themselves.

Make regular payments from just £50 per month, lump sums of at least £500 and top ups of at least £50. Transfers from other Junior ISAs and Child Trust Funds are also accepted.

Family and friends can pay in too – making a top up a perfect alternative for birthday and Christmas presents.

Your money is invested in Foresters Friendly Society’s With Profits fund, which has performed consistently well vs. comparable funds. (Source: Barnett Waddingham survey, Dec 2020)

Access to membership benefits including discretionary grants to help cover the cost of things like higher education and healthcare costs.

How would you describe POIS to someone who had never heard of them?

“A very personal, customer friendly service which allows you to take advantage of additional savings opportunities with a number of additional benefits.” POIS Member

“A great way to save for the future.” POIS Member

READ MORE

See how much you could save

Ready to make the most of your child’s ISA allowance? Applytop up or transfer today!

Added value for your child – Member Benefits

Taking out a Junior ISA is only the start. By doing so, your child will become part of the POIS family which is now a part of Foresters Friendly Society, a well-established UK friendly society. This means they can enjoy some wonderful, unique benefits such as discretionary grants to help with higher education costs when the time comes and to support life’s ups and downs. In 2020, we gave back over £1.7 million to our POIS and Foresters members in the form of discretionary grants.

Find out more

Common questions

Can anyone open a Junior ISA (JISA)?

A Junior ISA must be opened by the child’s parent, guardian or person with parental responsibility. But anyone can pay into it by setting up a Direct Debit or adding lump sums.

Up until the age of 16, the account is managed by the parent or guardian. After that, the child can apply to take responsibility although anyone can still add to the plan. Once the child turns 18 they can access the money in the account. No one else can access the savings as the Junior ISA is held in the child’s name.

Children aged 16 and 17 can open a JISA themselves.

Can I open more than one Junior ISA?

Your child can have a Cash Junior ISA, a Stocks and Shares Junior ISA, or both.

If they have both, you must still stay within the annual Junior ISA allowance every year. You don’t get two allowances because you have two ISAs.

A Junior ISA is also different to an adult ISA, where adult ISAs allow you to have more than one ISA account from different tax years, your child can only hold one cash Junior ISA and one stocks and shares Junior ISA. So if your child already has £5,000 invested in a stocks and shares Junior ISA and you would like to open a new stocks and shares Junior ISA with Foresters, you will need to transfer the £5,000 into the new plan.

How do transfers work?

Transfers into a Stocks and Shares Junior ISA with Foresters Friendly Society will be managed on your behalf, making the process as easy as possible. Just complete the online application, which includes a Transfer request form to be downloaded. Complete and return this to us and we will then liaise with your current provider on your behalf to transfer the funds across.

Can I hold a Junior ISA and a Child Trust Fund (CTF)?

Unfortunately it’s not possible for your child to hold a Child Trust Fund (CTF) and a Junior ISA. However, the CTF can be transferred into the Junior ISA, as can another Junior ISA held with another provider. If you’d like to transfer a CTF or Junior ISA, all you need to do is select the Transfer option in our online application, which includes a Transfer request form.

Are there any charges?

There is an Annual Management Charge of 2% of the value of your Junior ISA which covers the costs of administering the Junior ISA for you. Charges are deducted upfront before any bonuses are declared, so there are no additional charges for you to pay.

It is possible that the charge could change in the future, but Foresters Friendly Society promise it will never exceed 3% of the value of your Junior ISA in any one year. Take a moment to read the relevant Junior ISA Key Information Document and Important Information for more information about charges.

Where is my money invested?

Your money is invested in Foresters Friendly Society’s consistently well performing With Profits Order Insurance Fund. Depending on how the fund performs, we aim to add annual bonuses and a final bonus to your child’s Junior ISA. This is to boost their plan’s value. The addition of bonuses is not guaranteed.

You’ve worked hard for the money you invest, so extra good care is taken with it. That’s why your money is spread across a number of different types of investments to help minimise risk and increase the potential returns. By doing this your money can benefit from exposure to a range of asset classes which may include equities (company shares), fixed interest bonds (government and company), property and cash.

How much interest does the Junior ISA plan pay?

As your money is invested in the Foresters Friendly Society Order Insurance with profits Fund, rather than paying interest the value of your child’s Junior ISA has the potential to grow through the addition of bonuses. What growth the Junior ISA receives will depend on how well the fund performs.

The following annual bonus rates have been declared for the Junior ISA:

Year Annual Bonus Rate
2021 1.25%
2020 1.25%
2019 1.75%
2018 1.75%

The annual bonus rate is applied to how much you have invested plus any annual bonuses that have been previously added.

Please remember that bonuses are not guaranteed. Your child may also not get back the full amount originally invested, dependent on the investment conditions at withdrawal.

Please read Foresters Friendly Society’s Principles and Practices of Financial Management (PPFM) to find out more about the addition of bonuses and how we manage our fund.

The product design may vary to best meet the needs of policyholders which may affect the timing and size of future bonuses. Therefore the bonus rate provided above is for information purposes only and should not be considered an indication of likely future performance.

Can withdrawals be made from a JISA?

Unfortunately not. The Junior ISA is designed for long-term growth and legislation states that no one can access the funds before the child turns 18.

What happens when the child turns 18?

Once your child turns 18 they will be able to access their Junior ISA savings. Their lump sum can either continue to be invested as an adult ISA, or the money can be released and used for whatever they need it for. University fees, for example, saving towards a deposit on a house, or even buying their first car.

What would happen if the person paying contributions passes before the child reaches 18?

As the plan is held in the child’s name and is designed to allow anyone to pay into it, the Junior ISA will continue until the child turns 18.

Can I change my mind?

Of course. Once your application is accepted you will receive a statutory notice of your right to cancel.  At this point you have 30 days from the commencement date of the Junior ISA, or the date the notice is received, whichever is later, in which to change your mind.

For more information please see the Important Information document.

 

How do I decide if the Junior ISA is right for me?

If you’re unsure if this plan is suitable for your child, then you should seek advice from a Financial Adviser. Please be aware that you may have to pay for this advice.

Looking to top up an existing Junior ISA? There are three ways.

1

Online

Set up a regular monthly direct debit, or use your debit card to make a one-off, secure payment. Top up online now.

2

By phone

Call us on 0800 622 417 and we can set up a regular monthly direct debit, or take a one-off payment from your debit card over the phone.

3

By post

Download the Junior ISA Top Up Form. Simply complete the Direct Debit instruction or attach a cheque for the lump sum contribution amount, then send it back to us and we will do the rest for you.

 

TOP UP ONLINE TODAY

We’re here if you need help or have any questions

If you have any questions that we have not yet covered or just want to talk your application through, please give us a call. Our friendly UK based team are on hand to make things as easy as possible (lines are open Monday to Friday 9 am to 5 pm).

Call free on 0800 622 417

Children’s Tax Exempt Plan

Give your child a
Head start in life

Your child or grandchild deserves the best of everything, don’t you agree? And that includes being given an amazing start in life. Our simple and honest Children’s Tax Exempt Plan can help you provide a cash sum for them when they need it the most. It will mean the world to them – and you would have made it all possible.

Pay in

£25 a month

for 10 – 25 years

Life cover

included

A

tax-free

return for your
child

Available for

0 to 15

year olds

This affordable plan offers a tax free cash sum when they need it most. Imagine helping them pay towards their university fees, helping to fund a trip around the world or even helping towards the deposit on a first home.

By opening a Children’s Tax Exempt Plan, you will feel great knowing what an important contribution you will be able to make to their early adult years.  Priceless!

Request a pack to find out more about the Children’s Tax Exempt PlanRequest a pack

Why choose the Children’s Tax Exempt Plan?

At £25 per month, it is an affordable way to save for your child’s future.

Available for children aged 0 to 15 so that you can start saving for them when it suits you. But don’t worry if you have a child over 16. We offer an adult Tax Exempt Savings Plan as well.

Can be held alongside a Junior ISA or Child Trust Fund so it provides you with more ways to save tax-efficiently for your children.

Your £25 per month contributions are invested in our Flexible Growth Fund for potential growth over the longer term.

You choose how long you want to save for, from 10 to 25 years. Your child must be at least 16 years old to receive the cash sum.

As a POIS member, your child or grandchild will have access to membership benefits including discretionary grants to help cover the cost of things like higher education and healthcare costs

How would you describe POIS to someone who had never heard of them before?

“They have excellent service, good policies and I have introduced my friends for their children.” POIS Member

READ MORE

See how much you could save

A real-life example

A £25 per month Children’s Tax Exempt Plan which commenced in July 2011 with a 10 year term provided a payout of £4,553.53 at maturity. This is an average annual return of 8.1% and a total return of 51.7%, after administration fees and charges.

The above graph is provided for information purposes. Past performance should not be seen as a reliable indicator of future results. The value of holdings within the fund can fall as well as rise, and you could get back less than you have paid into the plan. As the fund holds overseas assets, the Sterling value of these assets may rise and fall as a result of exchange rate fluctuations.

Please note that a policy taken out in July 2011 had a monthly charge of £0.75 throughout.
Policies commencing now will have a monthly charge of £1.50 throughout.

Ready to start saving for your child’s future? Apply today!

Investing in the POIS Flexible Growth Fund

The POIS tax exempt plans invest in our Flexible Growth Fund. This is an actively managed fund with the aim of achieving long term growth, while spreading risk across a wide range of investments. It invests mainly in shares, both UK and overseas, along with convertible bonds.

When you invest with us your money buys units or shares in a fund and the units in each fund have a daily value which can be used to work out the current overall value of your plan.

To work out the value of your plan simply take the number of units your plan currently holds, and multiply this number by the current Unit Price for that plan.

POIS Flexible Growth Fund

Tax Exempt Saving Plan Children’s Tax Exempt Plan

17/05/2024

Unit Price (pence):

144.00

Change from previous day:

+0.07%

Added value for your child – Member Benefits

Taking out a Children’s Tax Exempt Plan is only the start. By doing so, your child will become part of the POIS family which is now a part of Foresters Friendly Society, a well-established UK friendly society. This means they can enjoy some wonderful, unique benefits such as discretionary grants to help with higher education costs when the time comes and to support life’s ups and downs.  In 2021, we gave back over £1.7million to our POIS and Foresters members in the form of discretionary grants.

Find out more

Common questions

Can anyone take out a Children’s Tax Exempt Plan?

Yes anyone can open a Children’s Tax Exempt Plan on behalf of a child. If you are not the child’s parent or guardian, we’ll ask you to confirm that they agree to you setting up the plan. We will then send the plan documents to them so you will need to provide their details as part of the application process.

If the person paying into the plan isn’t the parent or guardian, they’ll receive a copy of the Direct Debit agreement to show they are paying the contributions. They’ll also receive the right to cancel pack in the first 30 days.

Can I open more than one Children’s Tax Exempt Plan for my child?

Under current legislation each person (including children) can save up to £25 a month in a Friendly Society tax free regular savings plan. Therefore, as the monthly contribution for our Children’s Tax Exempt Plan is £25, the child cannot hold more than one tax exempt plan with POIS or any other Friendly Society.

However, if you want to save more than £25 a month, you could consider opening a Junior ISA.

What is life cover?

This plan includes life cover at no additional cost, meaning that if your child passes away before the plan ends then their estate will receive a cash payout. You won’t have to answer any medical questions when applying for the plan making it simple for you to take out but you will benefit from this type of cover.

Until the child reaches the age of 10, the life cover will be the return of the monthly contributions that have been paid into the plan.  After they turn 10, the life cover is calculated at 75% of the total contributions you are due to make over the plan’s full term which you choose when you open it.

In both cases, the life cover is available as long as monthly contributions continue to be paid.  If the value of the plan is higher than the life cover, the plan value will be paid to the estate.

How do I pay into the plan?

With ease!  Your £25 per month contribution will be paid by Direct Debit straight from your bank account.  When you apply, you will provide your bank details and we will set the Direct Debit up for you, you don’t need to do a thing.

Your contributions will be collected each month.  It is not possible to make a lump sum payment into the POIS Children’s Tax Exempt Plan, if you wish to invest a lump sum you can consider other plans we offer such as the Junior ISA or Stocks & Shares ISA which accept lump sum payments by card, bank transfer or online secure payments.

Where is my money invested?

The monthly contributions you make will purchase units in the POIS Flexible Growth Fund. The aim of the fund is to achieve long term growth, while spreading risk across a wide range of investments. It invests in UK and overseas shares, along with Global Convertible Bonds. It is an actively managed fund which means our expert fund managers make decisions about how to invest the fund’s money as opposed to the fund just following a market index.

The value of holdings within the fund can fall as well as rise, and you could get back less than you have paid into the plan. As the fund holds overseas assets, the Sterling value of these assets may rise and fall as a result of exchange rate fluctuations.

For more information about the fund see our Fund Information.

Are there any charges?

As with any investment, there are costs in managing the plan on your child’s behalf. These include an annual management charge and a monthly administration charge which are deducted from the value of their plan.

For more information about charges, see the Children’s Tax Exempt Plan  Key Information and Important Information documents

What happens if I stop paying?

We would encourage you to keep up your monthly contributions for the plan’s full duration.

If you stop making contributions, the life cover will end, so, if your child passes away, the payment returned to their estate will be the value of the plan.

If you miss some monthly contributions into the plan, you have 13 months to pay the missing contributions, altogether in one lump sum, and continue paying into the plan. If, at the end of the 13 months, you have not made up the missing contributions there will be various scenarios that could apply.  Please see the Important Information document for further details.

What happens if the plan is cashed in early?

This is a mid-long term savings plan so you should aim to keep the plan open for the length of time you choose when you open it.  That said, we appreciate that personal circumstances can change.  So, if you do need to cash the plan in early you should read the Important Information document to see what charges may apply.

Your child cannot cash in this plan until they reach the age of 16. The payout will be paid to your child at all times, as the plan is for their sole benefit.

What happens if I pass away?

If you were to pass away whilst you are paying contributions on behalf of a child, someone else can take on the responsibility of continuing payments into the plan for the remainder of its term.

If there isn’t anyone to continue the monthly Direct Debit, the plan can either be cashed-in or stopped.  Please see the Important Information document for further details.  Some charges may apply.

What happens when my child’s plan reaches maturity?

We’ll send the child a maturity information pack a little while before their plan is due to mature. This will advise how much the cash lump sum payment will be, and will detail the information we’ll require so we can transfer the money to them. If the maturity date is close to the child’s 16th birthday, the maturity information pack may be sent to the parent/guardian.

When the plan matures all of the money saved and all investment returns less charges will be paid directly to your child. So that we can do this, your child will need a bank account set up in their name.

I’m not sure if the Children’s Tax Exempt Plan is right for me. What should I do?

If you’re unsure as to the suitability of this plan, you should seek advice from a Financial Adviser. Of course, you may have to pay for this advice.

Ready to get started? APPLY ONLINE OR Request a pack

We’re here if you need help or have any questions

If you have any questions that we have not yet covered or just want to talk your application through, please give us a call. Our friendly UK based team are on hand to make things as easy as possible (lines are open Monday to Friday 9 am to 5 pm).

Call free on 0800 622 417

Stocks & Shares ISA

An ISA that
Works as hard as you do

Saving regularly can make a big difference over time, and with an ISA your savings are tax free too. Our Stocks & Shares ISA makes an extra special effort to reward you over the medium to long term. Tax-free benefits, flexible options, and more potential growth with bonuses. A little each month goes a long way.

Potential growth
thanks to
bonuses

Save up to

£20,000

this tax year

Flexible

saving options

Transfers

accepted

We all have a financial goal for the future. What’s yours? A new car? A holiday? Perhaps it’s putting the kids through uni. Or maybe it’s just having that financial cushion for peace of mind.

A Stocks & Shares ISA is tax-free – which means you won’t pay income or capital gains tax on your plan’s returns. And because it’s designed to deliver steady growth over five years or more, you could achieve your goals sooner than you thought.

Our Stocks & Shares ISA is provided by Foresters Friendly Society, which owns POIS, and can be opened by setting up a monthly Direct Debit, investing a lump sum or by transferring an existing ISA.

Request a pack to find out more about the Stocks & Shares ISA  request a pack

Why choose a Stocks & Shares ISA?

This Stocks & Shares ISA is perfect for medium to long-term savings and is designed for people looking to build savings for the future.

All UK residents aged 18 to 80 can apply.

Save up to £20,000 in the current tax year through regular saving from just £50 per month, lump sums of at least £500 and top ups of at least £250. Transfers in also accepted.

Your savings have the potential to grow thanks to annual and final bonuses.

Your money is invested in Foresters Friendly Society’s With Profits fund, which has performed consistently well vs. comparable funds. (Source: Barnett Waddingham survey, Dec 2020)

Access to membership benefits including discretionary grants to help cover the cost of things like higher education and healthcare costs.

How would you describe POIS to someone who had never heard of them before?

“It is somewhere you can put money where it’s safe, and you get a good return on it. We have used it for our children too.” POIS Member

Read More

See how much you could save

A real-life example

A £1,000 Stocks & Shares ISA taken out on 1st July 2011 and surrendered on 1st July 2021 received a pay out of £1,452.03, on the basis of no earlier withdrawals being taken. This is total growth, after charges, of 45.2% or 3.8% per annum.

Past performance should not be seen as a reliable indicator of future results and the addition of annual and final bonuses is not guaranteed.

  • The final bonus rate is based on the year the money was invested into the plan and can change at any time.
  • The above graph is provided for information purposes. The potential for future bonuses depends on the performance of the Order Insurance Fund and how we distribute any profit.

Ready to make the most of your ISA allowance? Apply, top up or transfer today!

Added value for you – Member Benefits

Taking out a Stocks & Shares ISA is only the start. By doing so, you become part of the POIS family which is a part of Foresters Friendly Society, a well-established UK friendly society. This means you can enjoy some wonderful, unique benefits such as discretionary grants to help with dental and optical costs. In 2021, we gave back over £1.7 million to our POIS and Foresters members in the form of discretionary grants.

Find out more

Common questions

Am I allowed to open more than one ISA?

You can open a Cash ISA and a Stocks & Shares ISA, in addition to a Lifetime ISA if you are eligible, in a single tax year. But you have to make sure that all the combined contributions for that year don’t exceed your total annual ISA allowance. It’s possible to hold ISAs from previous years too, as it’s only the contributions you make to your ISA in the current tax year that go towards this year’s annual ISA allowance.

Please note that tax rules may change and depend on individual circumstances.

What is the difference between a Cash ISA and Stocks & Shares ISA?

Cash ISAs are basically savings accounts available to anyone aged 16 and over, where all the interest paid is free of income tax. Unlike a Stocks & Shares ISA the value of your capital can’t fall. There are two types of Cash ISAs:

  • Instant Access – you have direct access to your money and can make withdrawals whenever you need to.
  • Fixed Rate Cash ISAs – encourage you to lock your money away for a set period of time. Generally, the longer it’s in there, the more potential there is for a higher rate of interest.

A Stocks & Shares ISA, like this one, is designed more for longer-term investments and is available to anyone aged 18 years old and over. You may find it delivers a better return over time than a Cash ISA because it’s invested in a range of ways – but that all depends on the performance of the asset types your money may be invested in. The value of your investments can fall as well as rise and you may not get back the full amount originally invested.

Can I transfer any existing ISAs?

Yes, you can transfer an existing ISA into our Stocks & Shares ISA and then continue to save for your future with Foresters Friendly Society.

Moving an existing ISA over to a Stocks & Shares ISA invested with Foresters Friendly Society is easy. If you are opening a new ISA with us, all you need to do is select the Transfer option in the online application. You’ll need to download and complete the Transfer form, then send this to us by post. We’ll then contact your existing provider and let you know when the funds have been added to your Foresters Stocks & Shares ISA.

If you are transferring into an ISA you already hold with us, you can start this process online by clicking here, providing your existing Foresters ISA policy number, and selecting Transfer in the payments section. You’ll find a Transfer form there which you’ll need to complete and return to us by post. We’ll then do the rest and let you know when the transferred funds have been added to your Foresters ISA.

To talk about transferring an ISA in more detail, call our UK-based team on 0800 622 417 or email us at [email protected] and we’ll be more than happy to help.

Where will the money be invested?

The money you pay into the Stocks & Shares ISA is invested in Foresters’ consistently well performing With Profits Order Insurance Fund. The fund’s aim is to deliver investment growth for you. Dependent on the performance of Foresters’ fund, there is the potential for annual bonuses and a possible final bonus to be added to your ISA.

Once invested, your money is spread across various types of investments including property, equities, cash and UK government bonds. This is done to reduce risk and increase the potential for healthier returns. You don’t need to be an investment expert – fund managers will handle the fund for you.

For the latest information on the investment strategy for Foresters’ With Profits fund, please see the Principles and Practices of Financial Management (PPFM).

How can I be sure my money will be invested responsibly?

As a friendly society, it’s particularly important to Foresters that your money is managed in an ethical and responsible way. As a signatory of the Principles for Responsible Investment (PRI) it demonstrates their commitment to responsible investment, to reducing their impact on the environment and mitigating climate change risk in their investment portfolios.

When you open a plan, you can be confident that investing with Foresters means your money will be invested in a trustworthy and environmentally conscious way. The PRI is the world’s leading supporter of responsible investment and promotes a better understanding of the investment implications of environmental, social and governance (ESG) factors.

Find out more about the 6 PRI principles Foresters have signed up to here.

What interest does the plan pay?

Rather than receiving interest your investment has the potential to grow through the addition of bonuses which depend on the performance of Foresters’ Order Insurance Fund. Any profits may be used to award an annual bonus to your ISA and possibly a final bonus when you eventually withdraw your money.

Foresters’ Order Insurance Fund has paid annual bonuses on the Stocks & Shares ISA for the past 18 years.

  • In 2021 the annual bonus rate was 1.25%.

This annual bonus is applied to the amounts you have invested, less the amounts you have withdrawn, and any annual bonuses that have been previously added.

We recommend you read our Principles and Practices of Financial Management (PPFM) to find out more about the addition of bonuses and how Foresters’ Order Insurance Fund is managed.

From time to time, the product might change slightly to meet the needs of our policyholders. This may affect the timings and amount of any bonuses in the future. Therefore, the above bonus rate is provided for information purposes only. It shouldn’t be considered as an indication of likely future performance.

Will I have to pay any charges?

Every year there is a management charge to pay – it’s set at 2% of your ISA’s value. It’s there to cover our costs in administrating the plan for you. We’ll always deduct the charge before we declare any bonuses. This way there are no additional fees for you to pay and our bonus rates are declared after the charge has been taken. Although this charge could increase in time, we guarantee it’ll never be more than 3% of the value of your ISA in any one year.

For more details, please read the relevant Stocks & Shares ISA Key Information Document and Important Information.

Can I take money out?

You can make regular and one-off withdrawals just as long as the remaining balance of your ISA does not fall below £500. After two years you can make regular withdrawals at fixed points in time such as monthly or quarterly, and one off withdrawals can be made at any time.

Please take a few minutes to read the Important Information document for further information on making withdrawals.

Can I cash-in my ISA?

As a with profits investment, your ISA will benefit from the potential for growth the longer it is kept invested. However, you can cash it in at any time. What you get back will depend on how much you’ve invested, any amounts you’ve withdrawn and any annual bonuses.

In good investment conditions you may also receive a final bonus. However, in less favourable conditions, a Market Value Reduction (MVR) may be applied which will reduce the ISA’s value and may mean you get back less than was paid in.

For more details please take a few minutes to read the Important Information document.

Can I change my mind?

Of course. If you have a change of heart and want to close your ISA within the first 30 days, simply complete the cancellation form and return it to us.

After the 30-day cancellation period is over you can cash-in your ISA whenever you choose. However, due to the nature of the investment and the length of time you may have invested for, you may find you get back less than you have paid in.

For more information please see the Important Information document.

How do I decide if the Stocks & Shares ISA is right for me?

If you’re still unsure if this plan is suitable for you, then you should seek advice from a Financial Adviser. Please be aware that you may have to pay for this advice.

Looking to top up an existing Stocks & Shares ISA? There are three ways.

1

Online

Set up a regular monthly direct debit, or use your debit card to make a one-off, secure payment. Top up online now.

2

By phone

Call us on 0800 622 417 and we can set up a regular monthly direct debit, or take a one-off payment from your debit card over the phone.

3

By post

Download the Stocks & Shares ISA Top Up Form. Simply complete the Direct Debit instruction or attach a cheque for the lump sum investment. Then send it back to us. To transfer an ISA to Foresters, download the Foresters ISA Transfer Form, complete and return it, and we’ll contact your existing provider for you.

 

TOP UP ONLINE TODAY

We’re here if you need help or have any questions

If you have any questions that we have not yet covered or just want to talk your application through, please give us a call. Our friendly UK based team are on hand to make things as easy as possible (lines are open Monday to Friday 9 am to 5 pm).

Call free on 0800 622 417

Savings that work harder with a
25% government bonus

We all dream about how we would like life to be in the future but making it a reality can be tricky. Whether you are thinking shorter term and your first home, or looking ahead and saving for retirement, a Lifetime ISA (or LISA) could be the ideal way to help your plans take shape. That’s because the government gives you a 25% bonus every month on every penny you’ve saved.

25%

government bonus on your savings

Potential for

extra bonuses

too

Available for

18-39

year olds

Save up to

£4,000

a year

Getting onto the property ladder can be a challenge and retirement may seem a long way off, but taking advantage of the extra 25% government bonus of up to £1,000 per year with a Lifetime ISA can certainly help you to get your savings underway.  You work so hard to save what you can – isn’t it nice to get rewarded for it?

Our Lifetime ISA is provided by Foresters Friendly Society, which owns POIS, and can be opened by setting up a monthly Direct Debit, investing a lump sum or by transferring other ISA savings. It is classified as a Stocks and Shares ISA.

Request a pack to find out more about the Lifetime ISA request a pack

Why choose a Lifetime ISA?

Looking to save for your first home? Or planning ahead for a comfortable retirement? The Lifetime ISA could be for you.

The Lifetime ISA is available to all UK residents aged 18 to 39. And while you’re unable to take out a joint Lifetime ISA, your partner can also take one out.

Your Lifetime ISA will receive a 25% government bonus every month, up to a maximum of £1,000 each tax year (a tax year runs from April 6 to April 5 the following year).

Save up to £4,000 every tax year from £50 a month or invest a lump sum of at least £500. You can top up your savings with amounts of £250 or more too.  Transfers in are accepted too.

Your money is invested in Foresters Friendly Society’s With Profits fund, which has performed consistently well vs. comparable funds. (Source: Barnett Waddingham survey, Dec 2020)

You’ll also get access to membership benefits including discretionary grants to help cover the cost of things like higher education and healthcare costs

Rory and Rosemary, Surrey

“We took out a Lifetime ISA to help boost our retirement funds. It appealed to us as we feel the state pension and workplace pensions may not be sufficient on their own. We didn’t want to miss out on the additional money from the government with the plan’s 25% bonus!

As editor of the Foresters member magazine, and with Rosemary running our local Foresters branch, it’s been great to get involved with the member events that take place too.”

READ MORE

See how much you could save

Ready to make the most of your Lifetime ISA allowance? Apply, top up or transfer today!

Added value for you – Member Benefits

Taking out a Lifetime ISA is only the start. By doing so, you become a welcome member of the POIS family which is now a part of Foresters Friendly Society, a well-established UK friendly society. This means you can enjoy some wonderful, unique benefits such as discretionary grants to help with dental and optical costs.  In 2021, we gave back over £1.7 million to our POIS and Foresters members in the form of discretionary grants.

Find out more

Common questions

What is a Lifetime Individual Savings Account (Lifetime ISA/LISA)?

Whether you’re putting plans in place for your first leap into home ownership, or thinking about the type of retirement you’d like to have, a Lifetime ISA could be just what you need to get started. It allows you to pay in up to £4,000 every tax year into a Cash LISA, or a Stocks & Shares LISA like the one we offer (or you can split the allowance between both). The government will then add a 25% bonus on the money you pay into your LISA every month.

It gets better. As your money will be invested in Foresters Friendly Society’s With Profits fund, it could also benefit from an annual bonus each year, plus a potential final bonus when you withdraw your money. Unlike the government bonus, these bonuses are not guaranteed.

To open a Lifetime ISA you need to be aged 18 to 39 and a UK resident for tax purposes

How long can I save with a Lifetime ISA?

Although you need to be under 40 to open a LISA, once opened you can pay into the plan until you turn 50 at which point no more contributions can be made. Government bonuses will be paid on any money you pay into your Lifetime ISA up until the age of 50 and we aim to add bonuses dependent on the performance of the Foresters’ with profits fund throughout the plan’s duration.

If you’re saving for retirement your savings can be accessed from the age of 60.  If you’re saving for your first home, your savings can be accessed for that purpose at any age, but bear in mind that stocks and shares Lifetime ISAs (LISAs) are designed as medium to long-term investments. So if you are thinking of using your LISA for a deposit on your first home within the next three years or so, then the Foresters Lifetime ISA may not be right for you.

As the Lifetime ISA should ideally be held for a number of years, you may find that some of the rules and regulations covering their operation and tax status may change in the future. You won’t pay tax on your investment, but don’t forget that tax is automatically deducted from share dividends and that tax cannot be reclaimed. The addition of Foresters bonuses is not guaranteed.

How much can I pay into a Lifetime ISA?

If you choose to open a Lifetime ISA invested with Foresters Friendly Society, you can pay in regular monthly amounts by Direct Debit from £50 or you can invest a lump sum of at least £500. After that you can make top ups with lump sums of at least £250.

Alternatively, you can make a mixture of both regular and lump sum payments into the plan. Just remember your total contributions must not be more than £4,000 per tax year.  As LISAs are designed to be held for a number of years, the limit on annual contributions may change but we will keep you updated if it does change in the future.

Can I transfer other savings, like a Help to Buy ISA, into a Lifetime ISA?

Yes, you can move money from other savings or ISAs into your LISA, which could work to your benefit if your current savings are not performing as well as you would like.

Perhaps you’ve already started saving for your first home in a Help To Buy ISA. Not a problem – you can still transfer that into a LISA during the 2021/2022 tax year, and receive the 25% government bonus on those funds as well. It’s important to remember that any transfer you make from another ISA will count towards your annual £4,000 LISA limit. Before making any transfer, it’s important to check with your existing provider if there will be any penalties or loss of interest from your existing savings or ISAs.

To transfer an existing ISA all you need to do is complete the online application, which includes a transfer option. There is a transfer form that must be completed and returned to us so we can process your transfer request. We will then contact your existing provider to start the transfer process.

If you are transferring into a Lifetime ISA you already hold with us, you should complete the online Top up form, select the transfer option and make sure you provide your Foresters Lifetime ISA policy number.

Is it possible to open a joint Lifetime ISA?

Unfortunately, you can’t take out a joint LISA. But the good news is that your partner can take one out too. This way you can both benefit from the tax advantages, government bonus and growth potential. Both of you can each pay in a maximum of £4,000 to a LISA.

Not only that, both of you can each contribute £16,000 (the remainder of your annual £20,000 ISA allowance) into a normal Cash ISA or into a Stocks & Shares ISA for the current tax-year, maximising your tax free savings even further.

It’s my 40th birthday soon, can I still apply?

Yes, you can, as anyone aged 18 to 39 can apply. But you’ve not much time left, and it’s really important your LISA has money in the policy before your 40th birthday. This is part of HMRC’s requirements for the product, as their rules say the LISA must be set up and have money deposited whilst you are still 39.

Therefore it’s a good idea to start the plan with a lump sum payment, as depending on when in the month you make your application, it could be several weeks before you make the first Direct Debit payment.  So to be on the safe side, we’d suggest you consider opening the plan with a lump sum if you’re less than two months away from your 40th birthday.

How does buying a home work with a LISA?

It’s simple, but remember, your Lifetime ISA can only be used when you’re buying your first home. When the purchase is proceeding, your money that’s in the Lifetime ISA, including all government and possible Foresters’ bonuses, will be passed directly to the solicitor or licensed conveyancer who is acting on your behalf. If, for some reason, the purchase of the property doesn’t complete, the solicitor will return the money and it will be reinvested back into your plan at no loss to yourself.

Where will my money be invested?

Your money, along with the government bonus, will be invested into the Foresters Friendly Society consistently well performing With Profits Order Insurance Fund. The fund’s goal is to deliver growth over the medium to long term. There is the potential for annual bonuses and a maybe even a final bonus to be added to your Lifetime ISA by Foresters in addition to the government bonus, but this depends on how well the fund performs and cannot be guaranteed.

The following annual bonus rates have been declared by Foresters for our Lifetime ISA. These are paid in addition to your 25% government bonus:

Year Annual Bonus Rates
2021 1.25%
2020 1.25%
2019 1.75%
2018 1.75%
2017 1.75%

The annual bonus is applied to the amount invested, less any withdrawals you may have made to your Lifetime ISA – plus any previous bonuses that have been added.

Please note that bonuses are not guaranteed. And you may not get back the full amount you invested originally, dependent on the investment conditions at the time of withdrawal. Inflation will affect what you can buy when you cash-in your LISA.

Please read our Principles and Practices of Financial Management (PPFM) to find out more about the addition of bonuses and how Foresters manage the fund.

From time to time, the product might change slightly to meet the needs of policyholders. This may affect the timings and amount of any bonuses in the future. Therefore, the above bonus rate is provided for information purposes only. It shouldn’t be considered as an indication of likely future performance.

How can I be sure my money will be invested responsibly?

As a friendly society, it’s particularly important to Foresters that your money is managed in an ethical and responsible way. As a signatory of the Principles for Responsible Investment (PRI) it demonstrates their commitment to responsible investment, to reducing their impact on the environment and mitigating climate change risk in their investment portfolios.

When you open a plan, you can be confident that investing with Foresters means your money will be invested in a trustworthy and environmentally conscious way. The PRI is the world’s leading supporter of responsible investment and promotes a better understanding of the investment implications of environmental, social and governance (ESG) factors.

Find out more about the 6 PRI principles Foresters have signed up to here.

How are the bonuses from the government paid?

The money that you pay into your Lifetime ISA in any one tax year will receive a 25% government bonus which is paid monthly. So let’s say you pay £200 a month into your LISA; each month you will receive a £50 government bonus as well. The payment of these bonuses is managed for you, so you don’t need to do a thing.

Will I have to pay any charges with the Lifetime ISA?

There’s an Annual Management Charge to pay, which covers the cost of managing the LISA for you. This is initially set at 2% of the value of your Lifetime ISA, and will be deducted before any annual bonuses are added to the plan.

The charge may change, but Foresters promise it will never exceed 3% of the value of your Stocks & Shares LISA in any one year. For more information about charges, please see the Lifetime ISA (LISA) Key Information Document and the Important Information.

What happens if I decide not to use my LISA to buy a home or for retirement?

Good question. Although the LISA is designed for you to save for your first home or later life and retirement from age 60, you can still cash it in for other reasons. However, in most cases this would incur a 25% government charge, applied to the whole amount of your withdrawal.

This effectively returns the government bonus to them, and includes any growth or other bonuses received on that money. If you do wish to make withdrawals, then we recommend you read the Lifetime ISA Important Information for further information.

How do I decide if the Lifetime ISA is right for me?

If you’re unsure if this plan is suitable for you, then you should seek advice from a Financial Adviser. Please be aware that you may have to pay for this advice.

Looking to top up an existing Lifetime ISA? There are three ways.

1

Online

Set up a regular monthly direct debit, or use your debit card to make a one-off, secure payment. Top up online now.

2

By phone

Call us on 0800 622 417 and we can set up a regular monthly direct debit, or take a one-off payment from your debit card over the phone.

3

By post

Download the Lifetime ISA Top Up Form. Simply complete the Direct Debit instruction or attach a cheque for the lump sum investment. Then send it back to us. Or download the Foresters Lifetime ISA Transfer Form, complete and return it, and we’ll contact your existing provider for you.

 

TOP UP ONLINE TODAY

We’re here if you need help or have any questions

If you have any questions that we have not yet covered or just want to talk your application through, please give us a call. Our friendly UK based team are on hand to make things as easy as possible (lines are open Monday to Friday 9 am to 5 pm).

Call free on 0800 622 417

Savings & Investment Plan

Enjoy the future you’ve
worked so hard for

Our Savings and Investment Plan is a simple way to make the most of your tomorrow. Whether it’s putting something away for a special anniversary, the holiday of a lifetime or perhaps to go towards a child’s future university costs, the Savings and Investment Plan can help you to provide a cash sum for your future. After all, you’ve earned it.

Save from

£26-260

per month

Invest for

10

years

The plan

includes life cover

at no cost

For UK

residents aged

16-74

Having a little cash nestled away for the future can give you peace of mind, don’t you think? It’s there for those small emergencies, big purchases or just to treat yourself. You can’t put a price on that kind of reassurance.

Request a pack to find out more about the Savings & Investments Plan request a pack

Why choose a Savings & Investment Plan?

Helps you to build up what could be a substantial nest egg for your future.  If you save £260 a month, you’ll have saved £31,200 over 10 years with the potential for additional growth.

Affordable way of saving regularly for your future by setting up a monthly Direct Debit for an amount between £26 and £260.

A 10 year savings plan at the end of which you can choose to cash it in, extend it for a further 10 years or leave it invested – it’s completely up to you.

Invested in our Savings Fund for potential for growth over the longer term.

Life cover automatically included at no additional cost to you.

Access to membership benefits including discretionary grants to help cover the cost of things like higher education and healthcare costs

How would you describe POIS to someone who had never heard of them before?

“A very reliable and efficient service and good at managing your money.” POIS Member

“A great way to save for the future.” POIS Member

Read More

See how much you could save

A real-life example

A £26 per month Savings & Investment Plan which commenced in July 2011 with a 10 year term provided a payout of £4,554.03 at maturity. This is an average annual return of 7.3% and a total return of 45.9%, after administration fees and charges.

The above graph is provided for information purposes. Past performance should not be seen as a reliable indicator of future results. The value of holdings within the fund can fall as well as rise, and you could get back less than you have paid into the plan. As the fund holds overseas assets, the Sterling value of these assets may rise and fall as a result of exchange rate fluctuations.

Please note that a policy taken out in July 2011 had a monthly charge of £0.75 throughout. Policies commencing now will have a monthly charge of £1.50 throughout.

Ready to start making tax-free savings? Apply today!

Investing in the POIS Savings Fund

The POIS Saving & Investment Plan invests in our Savings Fund. This is an actively managed fund which aims to provide good potential for growth, over the longer term, by investing mainly in stocks and shares.

When you invest with us your money buys units or shares in a fund and the units in each fund have a daily value which can be used to work out the current overall value of your plan.

To work out the value of your plan simply take the number of units your plan currently holds, and multiply this number by the current Unit Price for that plan.

POIS Savings Fund

Savings & Investment Plan

17/05/2024

Unit Price (pence):

288.00

Change from previous day:

0%

Added value for you – Member Benefits

Taking out a Savings & Investment Plan is only the start. By doing so, you will become part of the POIS family which is now a part of Foresters Friendly Society, a well established UK friendly society.  This means you can enjoy some wonderful, unique benefits such as discretionary grants to help you cover the cost of things like higher education, dental and optical costs. In 2021, we gave back over £1.7 million to our POIS and Foresters members in the form of discretionary grants.

Find out more

Common questions

How do I pay into the plan?

With ease!  Your monthly contribution will be paid by Direct Debit straight from your bank account.  When you apply, you will provide your bank details and we will set the Direct Debit up for you, you don’t need to do a thing.

Your contributions will be collected each month.  It is not possible to make a lump sum payment into the POIS Savings and Investment Plan, if you wish to invest a lump sum you can consider other plans we offer such as the Junior ISA, Stocks & Shares ISA or Lifetime ISA which accept lump sum payments by card, bank transfer or online secure payments.

What is the life cover?

A benefit of the Savings and Investment Plan is that life cover is automatically included at no additional cost to you. To be eligible for the plan you will asked about your state of health within the application.  If you are unable to confirm the two points requested, then unfortunately you will not be able to take out a plan.

The amount of life cover is based on the size of contribution you pay and is calculated as 75% of the contributions you are due to make over the plan’s initial 10 year term.

If you are aged 56 or over when you apply, the amount of life cover is reduced by 2% for each year. For example, if you are 56, you will receive life cover based on 73% of the contributions you are due to make over the initial 10 year term. If you are 57 you will receive 71%.

In all cases, the life cover is available as long as monthly contributions continue to be paid. If the value of the plan is higher than the life cover, the plan value will be paid to your estate.

Where is my money invested?

Your money is invested in the POIS Savings Fund which aims to provide good potential for growth, over the longer term, by investing mainly in stocks and shares. It is an actively managed fund which means our expert fund managers make decisions about how to invest the fund’s money as opposed to the fund just following a market index.   Investing in different industry sectors helps reduce risk and increase potential returns through diversification. It’s all about not having ‘all your eggs in one basket’.

The contributions you make will be used to purchase units in the fund. The value of holdings within the fund can fall as well as rise, and you could get back less than you have paid into the plan. As the fund holds overseas assets, the Sterling value of these assets may rise and fall as a result of exchange rate fluctuations.

For more information on the fund please see the fund information section.

Are there any charges?

As with any investment, there are costs in managing the plan on your behalf. These include an annual management charge and a monthly administration charge which are deducted from the value of your plan.

For more information about charges, see the Savings & Investment Plan Key Information and Important Information documents.

What happens if I stop my Direct Debit?

We would encourage you to keep up your monthly contributions for the plan’s full duration.

If you stop making contributions, your life cover will end, so, if you pass away, the payment returned to your estate will be the value of the plan.

If you miss some monthly contributions into the plan, you have 13 months to pay the missing contributions, altogether in one lump sum, and continue paying into the plan. If, at the end of the 13 months, you have not made up the missing contributions there will be various scenarios that could apply.  Please see the Important Information document for further details.

What happens if the plan is cashed in early?

If the plan is cashed in before its 10th anniversary, a charge will be deducted before the cash sum is paid to you.  The amount of the charge will depend on how long you have held the plan, as shown in the Important Information document.

In the early years, it is possible the plan value may be less than the surrender charge due.  In that instance, no plan value will be paid out and no further charge will be payable.  If a payout is returned to you, you may be liable for tax on any growth.

What happens if I pass away?

If you were to pass away and the value of your plan is higher than the amount of life cover, we will pay the current value. This will normally form part of your estate and may be subject to Inheritance Tax, depending on your individual circumstances.

If you wish, you can nominate a beneficiary to receive the value of your plan if you pass away, providing you have kept your contributions up to date.  They can receive up to £5,000 immediately following your death.  This can help to make a difficult time more bearable for your dependants.  This can be done without having to wait for your estate to be administered, which can often be a lengthy process at a difficult time. Any excess over the £5,000 would become part of your remaining estate and have to wait for probate.

I’m not sure if the Savings and Investment Plan is right for me. What should I do?

If you’re unsure as to the suitability of this plan, you should seek advice from a Financial Adviser. Of course, you may have to pay for this advice.

Ready to get started? APPLY ONLINE or request a pack

We’re here if you need help or have any questions

If you have any questions that we have not yet covered or just want to talk your application through, please give us a call. Our friendly UK based team are on hand to make things as easy as possible (lines are open Monday to Friday 9 am to 5 pm).

Call free on 0800 622 417.

Tax Exempt Savings Plan

Affordable savings today,
For a tax free tomorrow

You’ve paid taxes all your life. Now it’s time for a little break. Our Tax Exempt Savings Plan helps you to save a tax-free cash sum for your future. The best bit? You can use it to do all those things you’ve always dreamt about.

Affordable
saving of just

£25

a month

Invest for

10

years

Life cover

included

The potential for

long-term

growth

Whether it’s a holiday of a lifetime, buying a new car, giving the kids a little nest egg or finally treating yourself to that conservatory, you can use the money from your plan for whatever you want. And it’s all the sweeter knowing it’s tax-free.

Request a pack to find out more about the Tax Exempt Savings Planrequest a pack

A little thank you, just for you!

As a valued member, if you take out a new POIS Tax Exempt Savings Plan with us quoting Bonus 2022 by 30th September 2022, we will send you a £40 M&S Gift Card. Terms & conditions apply

Why choose a Tax Exempt Savings Plan?

A 10 year savings plan. At the end of the 10 years, you can either cash in your plan, extend it for a further 10 years or leave it invested. It’s your choice!

Available to all UK residents aged 16 to 74 who are not already investing their £25 per month tax exempt savings allowance with a friendly society.

An additional tax-free allowance on top of your annual ISA allowance.

Invested in our Flexible Growth Fund for potential growth over the longer term.

Life cover automatically included at no additional cost to you.

By saving with POIS, you’ll become a member of a mutual society. We differ to other financial services providers as we provide additional benefits to our members. You will have access to membership benefits including discretionary grants to help cover the cost of things like higher education and healthcare costs.

A simple way to save regularly for your future by a monthly Direct Debit of just £25.

How would you describe POIS to someone who had never heard of them before?

“They are a mutual company who look after their members, their policyholders, you can trust them 100 per cent and I would have no hesitation in recommending them to friends and family.” POIS Member

“It is friendly, reliable and trustworthy.” POIS Member

Read More

See how much you could save

A real-life example

A £25 per month Tax Exempt Savings Plan which commenced in July 2011 with a 10 year term provided a payout of £4,553.53 at maturity. This is an average annual return of 8.1% and a total return of 51.7%, after administration fees and charges.

The above graph is provided for information purposes. Past performance should not be seen as a reliable indicator of future results. The value of holdings within the fund can fall as well as rise, and you could get back less than you have paid into the plan. As the fund holds overseas assets, the Sterling value of these assets may rise and fall as a result of exchange rate fluctuations.

Please note that a policy taken out in July 2011 had a monthly charge of £0.75 throughout. Policies commencing now will have a monthly charge of £1.50 throughout.

Ready to start making tax-free savings? Apply today!

Investing in the POIS Flexible Growth Fund

The POIS tax exempt plans invest in our Flexible Growth Fund. This is an actively managed fund with the aim of achieving long term growth, while spreading risk across a wide range of investments. It invests mainly in shares, both UK and overseas, along with convertible bonds.

When you invest with us your money buys units or shares in a fund and the units in each fund have a daily value which can be used to work out the current overall value of your plan.

To work out the value of your plan simply take the number of units your plan currently holds, and multiply this number by the current Unit Price for that plan.

POIS Flexible Growth Fund

Tax Exempt Saving Plan Children’s Tax Exempt Plan

17/05/2024

Unit Price (pence):

144.00

Change from previous day:

+0.07%

Added value for you – Member Benefits

Taking out a Tax Exempt Savings Plan is only the start. By doing so, you will become part of the POIS family which is now a part of Foresters Friendly Society, a well established UK friendly society.  This means you can enjoy some wonderful, unique benefits such as discretionary grants to help you cover the cost of things like higher education, dental and optical costs. In 2021, we gave back over £1.7 million to our POIS and Foresters members in the form of discretionary grants.

Find out more

Common questions

What if I already have an ISA?

A Tax Exempt Savings Plan like this can be held in addition to any other tax free plans, such as ISAs.  It provides an additional £300 per year (£25 per month) tax-free savings allowance that you can use.  Any returns will be paid free of capital and income tax.  What’s not to like!

You should be aware that if you cash the plan in early, there may be some tax to pay on its returns.

Can I pay a lump sum into the plan?

It is not possible to make a lump sum payment into the POIS Tax Exempt Savings Plan.  You can however consider the Stocks & Shares ISA, Lifetime ISA or Junior ISA we offer which all accept lump sum investments should you wish to save in this way instead.

Where will the money be invested?

The monthly contributions you make will purchase units in the POIS Flexible Growth Fund. The aim of the fund is to achieve long term growth, while spreading risk across a wide range of investments. It invests in UK and overseas shares, along with Global Convertible Bonds. It is an actively managed fund which means our expert fund managers make decisions about how to invest the fund’s money as opposed to the fund just following a market index.

The value of holdings within the fund can fall as well as rise, and you could get back less than you have paid into the plan. As the fund holds overseas assets, the Sterling value of these assets may rise and fall as a result of exchange rate fluctuations.

The price of each unit is based on the value of the fund, divided by the number of units in issue. The number of units bought will depend on the price of those units on the day the units are bought.

The price of the units may go down as well as up and you may get back less than you have paid in.

For more information on the fund please see our Fund Information.

Are there any charges?

As with any investment, there are costs in managing the plan on your behalf. These include an annual management charge and a monthly administration charge which are deducted from the value of your plan. For more information about charges, see the  Tax Exempt Savings Plan Key Information and Important Information documents.

What is life cover?

One benefit of the Tax Exempt Savings Plan is that life cover is automatically included at no additional cost to you. This means that if you pass away before the plan ends then your estate will receive a cash payout. You won’t have to answer any medical questions when applying for the plan making it simple for you to take out but you will benefit from this type of cover.

The amount of life cover is calculated as 75% of the contributions you are due to make over the initial 10 year term.

If you are aged 56 or over when you apply, the amount of life cover is reduced by 2% for each year. For example, if you are 56, you will receive life cover based on 73% of the contributions you are due to make over the initial 10 year term. If you are 57 you will receive 71%.

In all cases, the life cover is available as long as monthly contributions continue to be paid.  If the value of the plan is higher than the life cover, the plan value will be paid to the estate.

What happens if I stop my Direct Debit?

We would encourage you to keep up your monthly contributions for the plan’s full duration.

If you stop making contributions, your life cover will end, so, if you pass away, the payment returned to your estate will be the value of the plan.

If you miss some monthly contributions into the plan, you have 13 months to pay the missing contributions, altogether in one lump sum, and continue paying into the plan. If, at the end of the 13 months, you have not made up the missing contributions there will be various scenarios that could apply.  Please see the Important Information document for further details.

What happens if the plan is cashed in early?

If the plan is cashed in before its 10th anniversary, a charge will be deducted before the cash sum is paid to you.  The amount of the charge will depend on how long you have held the plan, as shown in the Important Information document.

In the early years, it is possible the plan value may be less than the surrender charge due.  In that instance, no plan value will be paid out and no further charge will be payable.  If a payout is returned to you, you may be liable for tax on any growth.

What happens if I pass away?

If you were to pass away the value of the plan, or the life cover if higher, will be paid. This will normally form part of your estate and may be subject to Inheritance Tax, depending on your individual circumstances.

If you wish, you can nominate a beneficiary to receive the value of your plan if you pass away, providing you have kept your contributions up to date.  This can help to make a difficult time more bearable for your dependents.  They can receive up to £5,000 immediately following your death.  This can be done without having to wait for your estate to be administered, which can often be a lengthy process at a difficult time. Any returns over £5,000 would become part of your remaining estate and have to wait for probate.

I’m not sure if the Tax Exempt Savings Plan is right for me. What should I do?

If you’re unsure as to the suitability of this plan, you should seek advice from a Financial Adviser. Of course, you may have to pay for this advice.

Ready to get started? APPLY ONLINE or request a pack

We’re here if you need help or have any questions

If you have any questions that we have not yet covered or just want to talk your application through, please give us a call. Our friendly UK based team are on hand to make things as easy as possible (lines are open Monday to Friday 9 am to 5 pm).

Call free on 0800 622 417